Brooks v. Sullivan.
Supreme Court of North Carolina
AotxoN by A. F. Brooks against J. II. Sullivan and J. B. Gerringer, beard by Judge E. W. Timberlatfe and a jury, at January (Special) Term, 1901, of the Superior Court of Guilford County. From a judgment for the defendants, the plaintiff appealed.
1Opinion of the CourtC-laRK, J.
The only question is whether, when a negotiable note is transferred before maturity as collateral security for a pre-existing debt, the assignee is such holder for value that he takes free from equities of which he had no notice. The “Negotiable Instruments” statute, Acts 1899, Chap. 183, secs. 25-21, settles that such is the case now to the extent of the debt secured, but that is a change of the law, which was previously otherwise. Holderby v. Blum, 22 N. C., 51; Harris v. Horner, 21 N. C., 455, 30 Am. Dec., 182; Potts v. Blackwell, 56 N. C., 449. This case is governed by the law as it stood…
2Cases cited3 opinions
- Potts v. . BlackwellSupreme Court of North Carolina · 1857
- Harris v. . HornerSupreme Court of North Carolina · 1836
- Holderby v. BlumSupreme Court of North Carolina · 1838
3Cited by12 opinions
- Sykes v. EverettSupreme Court of North Carolina · 1914
- Smathers v. Toxaway Hotel Co.Supreme Court of North Carolina · 1915
- Barnes v. . CrawfordSupreme Court of North Carolina · 1931
- Sykes v. . EverettSupreme Court of North Carolina · 1914
- American National Bank v. DewSupreme Court of North Carolina · 1917
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