Kass v. Blumberg
Appellate Terms of the Supreme Court of New York
Appeal from City Court of New York, Trial Term. Action by Abraham L. Kass against Abraham Blumberg and others, impleaded with Emil Reibstein. From a judgment for plaintiff, defendant Reibstein appeals. Reversed, and new trial granted.
1Opinion of the CourtBijur, J.
The action is upon a promissory note. The appellant was an indorser. The defense was usury in the making of the note, with an allegation that the plaintiff, at the time he became the holder thereof, was aware of the usury and participated therein.
The learned trial court evidently based its action upon the rule that the defense of usury is not available to an indorser as against a holder in due course, pursuant to section 116 of the Negotiable Instruments Law; but section 91 defines a holder in due course as one who, among other elements, had no notice of any infirmity at the time it was…
2Cited by1 opinion
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