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MECHAM v. UNITED BANK OF ARIZONA

No. 10335.

107 Ariz. 437 (1971)

489 P.2d 247

Evan MECHAM et al., Appellants, v. UNITED BANK OF ARIZONA, an Arizona state bank, a corporation, et al., Appellees.

Supreme Court of Arizona, In Division.

Rehearing Denied October 19, 1971.

Attorney(s) appearing for the Case

Rawlins, Ellis, Burrus & Kiewit by Chester J. Peterson, Phoenix, for appellants.

Carson, Messinger, Elliott, Laughlin & Ragan by Robert W. Holland, Phoenix, for appellee United Bank of Ariz.

Stephen W. Connors, Phoenix, for appellees Munson.

CAMERON, Justice.

This is an appeal by the maker of a promissory note from a judgment in favor of the payee, Max E. Munson, and the United Bank of Arizona claiming to be a holder in due course.

On appeal we are called upon to answer the following questions:

1. Was the bank a holder in due course? 2. Was there consideration for the note?

The facts necessary to decide this appeal are as follows. In late 1966, Mecham Investment Company...

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