Bullock v. Wilcox
Supreme Court of Pennsylvania
ERROR to the common pleas of Bradford county. This was an action by Isaac Bullock against James Wilcox, upon a promissory note in the following form. “For value received I promise to pay to William Simpson or bearer the sum of twelve dollars by the 20th of June next. Witness my hand, July 27th, 1832. James Wilcox.”
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ERROR to the common pleas of Bradford county. This was an action by Isaac Bullock against James Wilcox, upon a promissory note in the following form. “For value received I promise to pay to William Simpson or bearer the sum of twelve dollars by the 20th of June next. Witness my hand, July 27th, 1832. James Wilcox.” When the note was given, William Simpson, Jun. executed a paper and delivered it to Wilcox, certifying what the note was given for, and that if the consideration should fail, the note should be void. The present plaintiff was a bona fide holder of the note for value. The…
1Opinion of the Court
The opinion of the court was delivered by
Kennedy, J.
The question presented here is, does the holder of a negotiable note for money, made payable to W. S. or bearer at a subsequent day, who has taken it of W. S. in the ordinary course of business, and given for it a valuable consideration, without notice of any objection which (he maker may have to the payment of it when it shall become due, hold it subject to the equities which existed between W. S. and the drawer; and liable to all the objections which the latter had a right to set up against (he payment of it to W. S. had he not parted with…
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