Appellate Division of the Supreme Court of the State of New York December 6, 1912 (Borough Bank v. Lamphear)

Hirschberg, J.:

The action is to recover on a demand note executed and delivered by the defendant to the plaintiff for the sum of $2,000. On October 9, 1907, the defendant was induced to subscribe for ten shares of the capital stock of the International Trust Company by one Howard Maxwell, who at that ■time was both president of the plaintiff and chairman of the organization committee of the