Shepherd v. Mortgage Security Corp. of America
Shepherd v. Mortgage Security Corp. of America
Opinion of the Court
delivered the opinion of the court.
This was an action by the holder of a negotiable note against the maker and endorsers thereof in which a judgment was rendered for the plaintiff against the endorsers.
The note sued on was as follows:
“$500.00 .Norfolk, Va., February 10, 1922.
“Sixty days after date I promise to pay to the order of myself, negotiable and payable without offset, at The Seaboard National Bank, of Norfolk, Norfolk, Virginia, five hundred and no/100 dollars.
“The endorsers hereof waive protest, presentment and notice of dishonor, and the makers and endorsers-waive the benefit of their homestead exemptions as to this obligation and agree to pay costs of collection, including attorney’s fees if incurred.
“W. J. Shepherd.
“Endorsed:
“Lily W. Taylor
“Wm. Henry Taylor
“W. J. Shepherd.”
(Ten cents documentary stamps.)
The defendant, Shepherd, filed a special plea,- sworn.
“That on or about the 10th day of February, 1922, William Henry Taylor, who, at that time, was a man in good standing and in good repute in the city of Norfolk, came to the place of W. J. Shepherd with an unsigned note dated February 10, 1922, drawn to the order of ‘myself’ for the sum of $500.00, payable sixty days after date, being the note now sued upon, except for the signature as maker thereon. This note at that time bore the endorsement of William Henry Taylor and Lily W. Taylor; the said William Henry Taylor then requested the said W. J. Shepherd to become the maker of the said note, but that W. J. Shepherd declined to become the maker thereof, but offered to endorse the note provided Lily W. Taylor or William Henry Taylor should become the maker. Said William Henry Taylor thereupon agreed to have the said Lily W. Taylor make the said note and said W. J. Shepherd endorsed the same as an accommodation endorser, and handed the note to the said William Henry Taylor, who thereupon took the said note and presented it to the plaintiff in this ease with the signature of the said W. J. Shepherd to the said note forged thereon and unauthorizedly signed thereto as maker, without the knowledge of W. J. Shepherd, said plaintiff taking the said note before maturity, however, in good faith, thinking that the signature of the maker thereof was the genuine signature of W. J. Shepherd, paying the said William Henry Taylor the sum of $500.00 therefor.”
As the signature of Shepherd as maker of the note was forged, there could be no recovery against him as maker, but the recovery against him was as an endorser. He was a general endorser, and by section 66 of the negotiable instruments act (Code section 5628)
We are of opinion that the judgment of the trial court is plainly right and it is therefore affirmed.
Affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.