National Bank of North America v. Kirby
Massachusetts Supreme Judicial Court
Contract on a promissory note dated at Boston May 5, 1863, signed by the defendant, and indorsed by him in blank, in which he promised to pay to his own order $1250 forty-eight months after date, with interest annually.
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Contract on a promissory note dated at Boston May 5, 1863, signed by the defendant, and indorsed by him in blank, in which he promised to pay to his own order $1250 forty-eight months after date, with interest annually. Writ dated May 13, 1869. The answer denied generally all the plaintiffs’ allegations; and alleged that, if they should prove the execution of the note by the defendant, and that they were the holders of it, then they took it overdue from Joseph A. Yeasie, and subject to all defences which might be made thereto against him; that he procured the note from the plaintiffs by false…
1Opinion of the CourtColt, J.
It must be assumed, upon the case stated, that the note in suit was originally obtained from the defendant by fraud and without consideration; because, upon the proof offered, it would have been competent, if the case had been submitted to them, for the jury so to have foúnd. The burden was thus placed upon the plaintiffs, of showing that they took the note for a valuable consideration, in the usual course of business,' before maturity, and in good faith. It would be sufficient to meet this burden, for the plaintiffs to show that they took it as collateral security; and then, if there was…
2Cited by36 opinions
- Cromwell v. County of SacSupreme Court of the United States · 1878
- Morgan v. United StatesSupreme Court of the United States · 1885
- Railroad Co. v. SpragueSupreme Court of the United States · 1881
- Taylor v. American National BankSupreme Court of Florida · 1912
- McPherrin v. TittleSupreme Court of Oklahoma · 1913
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