Southwest National Bank v. Lindsley
Idaho Supreme Court
APPEAL from tbe District .Court of the Second Judicial District, in and for Idaho County. Hon. Edgar C. Steele, Judge. Action on a promissory note. Judgment for defendants.
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APPEAL from tbe District .Court of the Second Judicial District, in and for Idaho County. Hon. Edgar C. Steele, Judge. Action on a promissory note. Judgment for defendants. The purchaser of a negotiable note before maturity is under no duty to make inquiry as to the origin of the note or of the consideration for it'. Nor will mere suspicious circumstances, if any exist, be sufficient to defeat the recovery by the purchaser, if he was not guilty of actual fraud or such conduct as amounts to dishonesty. The only notice which will defeat the purchaser is actual knowledge of the fraud or defect…
1Opinion of the CourtSullivan, C. J.
This is an action to recover the principal and interest due upon a certain joint and several promissory note, in the usual form, made and executed by respondents in favor of McLaughlin Brothers, in payment for a certain imported stallion, which note, it is alleged in the complaint, was, prior to its maturity, for a valuable consideration, in the usual course of business, sold and assigned to appellant.
Prior to the commencement of the action, W. A. Shatzer, one of the makers of the note, died and Frank S. Eice, administrator of his estate, was made a defendant in that capacity. A motion has…
2Cases cited6 opinions
- Winter v. NobsIdaho Supreme Court · 1910
- Vaughn v. JohnsonIdaho Supreme Court · 1911
- Park v. JohnsonIdaho Supreme Court · 1911
- Shellenberger v. NourseIdaho Supreme Court · 1911
- Park v. BrandtIdaho Supreme Court · 1911
1 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Jerke v. Delmont State BankSouth Dakota Supreme Court · 1929
- First National Bank v. HallIdaho Supreme Court · 1917
- Barbour v. FinkeSouth Dakota Supreme Court · 1924
- First Nat. Bank & Trust Co. v. HeilmanCourt of Appeals for the Tenth Circuit · 1932