Stewart v. Public Industrial Bank

W. H. Stewart seeks the reversal of a judgment in favor of Public Industrial Bank, rendered in an action on Stewart’s promissory note acquired by the bank from the payee before maturity. It is conceded that if the payee had sued, Stewart would have had a defense to the action. It is claimed that the defense is good as against the bank also for the reason that the bank had notice, actual or constructive, of the facts constituting the de fense, and for the further reason that the note, is nonnegotiable. Of these in their order.

1. Stewart bought from A. F. Joseph an automobile, and gave his note…