Downing v. Gibson
Supreme Court of Iowa
Appeal from PoUc Gvreuit Gowrt. Action upon a. promissory note, of which the following is a copy: .“$800. Thayer, Iowa, August 8, 1872. One year after date, for value received, I promise to pay the bearer eight hundred dollars, at Thayer, with ten per cent interest annually after date. Y. H. Gibson.”
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Appeal from PoUc Gvreuit Gowrt. Action upon a. promissory note, of which the following is a copy: .“$800. Thayer, Iowa, August 8, 1872. One year after date, for value received, I promise to pay the bearer eight hundred dollars, at Thayer, with ten per cent interest annually after date. Y. H. Gibson.” The defendant averred in substance that the note was executed and delivered, by him to O. B. Gibson, and that plaintiff received the same from said Gibson long after it became due; that defendant owned a note against said O. B. Gibson, as follows: “$863. Thayer, Iowa, April 9, 1872. One year…
1Opinion of the CourtRothrock, J.
1. promtsIsSgiiment counterclaim, -WThe evidence shows beyond controversy that the plaintiff purchased the note in suit of O. B. .Gibson after it became due. It also conclusively appears that the defendant purchased the note set up in the answer before he had any notice of the transfer. of the note in suit to the plaintiff. . The question to be determined is this: In an action by the assignee of a negotiable note; transferred after due, may the defendant set up as a counter claim or cause of action a note executed by the assignor of the note sued upon by plaintiff, which was assigned to…
2Cases cited2 opinions
- Switzer v. SmithSupreme Court of Iowa · 1872
- Richards v. DailySupreme Court of Iowa · 1872
3Cited by12 opinions
- Thomas v. Exchange BankSupreme Court of Iowa · 1896
- Benton v. Morningside CollegeSupreme Court of Iowa · 1926
- Haywood v. SeeberSupreme Court of Iowa · 1883
- Rice v. Friend Bros.Supreme Court of Iowa · 1917
- DeLaval Separator Co. v. SharplessSupreme Court of Iowa · 1907
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