St. Clair v. Hastings
St. Clair v. Hastings
Opinion of the Court
Opinion by
The note in question was procured by fraud. It was incumbent upon the present holder to show that he was an innocent purchaser for value without knowledge of the fraud. To meet these requirements the plaintiff, St. Clair, narrated all the circumstances attending the procuring of the note from Mr. Ployd, the president of the First National Sales Corporation and gave full details of the transactions between him and said company from the books of original entry. He showed the dates and amounts of the bills which made up the total for which the note was transferred in part payment. He testified that he knew nothing as to the infirmity in the note. There was nothing to impeach his testimony and on the record it bears every indication of candor. In
Judgment affirmed.
Reference
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- Syllabus
- Negotiable instruments — Promissory notes■ — Holders in due course — Binding instructions for plaintiff. In an action by the holder of a promissory note against the maker, it is not error for the court to direct a verdict for the plaintiff, where the uneontradicted evidence is to the effect that the plaintiff received the note for value, before maturity, without notice of any infirmity or defect in title.