Young v. Berkley
Superior Court of New Hampshire
In an action between the endorsee and the maker of a note, if it appear that the endorsee is a b&najide holder of the note without notice, the maker cannot be permitted to setup usury as a defence. Assumpsit upon a note of hand for $200, made by the defendant and payable to John Young, and by him endorsed to the plaintiff. The cause was tried here at May term, 1821, upon the general issue.
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In an action between the endorsee and the maker of a note, if it appear that the endorsee is a b&najide holder of the note without notice, the maker cannot be permitted to setup usury as a defence. Assumpsit upon a note of hand for $200, made by the defendant and payable to John Young, and by him endorsed to the plaintiff. The cause was tried here at May term, 1821, upon the general issue. The plaintiff having proved the making and endorsement of the note, the defendant proposed to prove, that $28 80, part of the sum mentioned in the note, was illegal interest reserved upon the residue of the…
1Opinion of the CourtWoqbbory, J.
The question to be decided in this case is, whether a note of hand can in this state be impeached in'the hands of a bona fide endorsee, on the ground that the consideration of the note was illegal interest?
It is well settled, that, when a contract or assurance is declared by statute to be void, it must be considered as void even in the hands of an innocent endorsee, who has given a valuable consideration for it. Chitty of Bill 70.—2 Strange 1156, Boyer vs. Bampton.—Doug. 736, Lowe vs. Waller.—5 Mass. Rep. 286, Bayley vs. Tabor.
But at common law, a note in the hands of an innocent endorsee, is…
2Cases cited2 opinions
- Ayer v. HutchinsMassachusetts Supreme Judicial Court · 1808
- Bayley v. TaberMassachusetts Supreme Judicial Court · 1809
3Cited by2 opinions
- Forbes v. MarshSuperior Court of New Hampshire · 1824
- Steele v. FranklinSuperior Court of New Hampshire · 1831