Howser Bros. v. Tonson
Supreme Court of Georgia
Equitable petition. Before Judge J. B. Jones. Lumpkin superior court. October 28, 1922. Howser Brothers filed a petition against G. W. Tonson and the Water Power & Mining Co. of Georgia, and alleged substantially the following: On Aug. 6, 1921, plaintiffs executed and delivered to the Water Power & Mining Co. of Georgia their three promissory notes, one for $200 principal, one for $300 principal, and one for $325 principal, due respectively six, eighteen, and twenty-four…
Read the full summary
Equitable petition. Before Judge J. B. Jones. Lumpkin superior court. October 28, 1922. Howser Brothers filed a petition against G. W. Tonson and the Water Power & Mining Co. of Georgia, and alleged substantially the following: On Aug. 6, 1921, plaintiffs executed and delivered to the Water Power & Mining Co. of Georgia their three promissory notes, one for $200 principal, one for $300 principal, and one for $325 principal, due respectively six, eighteen, and twenty-four months after date, with interest from date at the rate of eight per cent, per annum, and providing for the payment of ten…
1Opinion of the CourtAtkinson, J.
1. The wrongful transfer by a payee of negotiable notes to a bona fide purchaser, thereby cutting off valid defenses of the makers thereto, gives rise to a cause of action for the damages resulting therefrom. Detwiler v. Bainbridge Grocery Co., 119 Ga. 981 (47 S. E. 553).
2. There being no allegation that the payee of the notes was insolvent, and the purpose of the petition being to enjoin the transfer of the notes in order to enable the' plaintiffs to plea certain defenses thereto, consisting of partial failure of consideration, due to failure to deliver to the makers of the notes certain…
2Cases cited1 opinion
- Detwiler v. Bainbridge Grocery Co.Supreme Court of Georgia · 1904
3Cited by1 opinion
- Troup v. MartinSupreme Court of Georgia · 1924