Allen v. Harris
Missouri Court of Appeals
Appeal from, the Atchison Circuit Court. — Hon. C. A. Anthony, Judge. (1) Under the undisputed facts of the case the court erred in finding for plaintiff. There is no controversy but that appellants took the notes Iona fide to secure a note given. by Iler in settlement of an overdue account, and in which a year’s longer time was given.
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Appeal from, the Atchison Circuit Court. — Hon. C. A. Anthony, Judge. (1) Under the undisputed facts of the case the court erred in finding for plaintiff. There is no controversy but that appellants took the notes Iona fide to secure a note given. by Iler in settlement of an overdue account, and in which a year’s longer time was given. Negotiable paper taken before maturity in settlement of a pre-existing debt, or in extension of it, or for a new debt, is free from equities in the hands of the Iona fide holder. Story on Prom. Notes [6 Ed.], sec. 195; Logan v. Smith, 62 Mo. 455; Paulette v.…
1Opinion of the CourtGill, J.
Statement. Plaintiff brought this suit to foreclose a deed of trust given by defendants-Harris to secure five promissory notes of $100 each which said defendants executed, April 4, 1894, to one N. W. Iler, and which were due in ■ one, two-, three, four and five years from date. Immediately after Iler got these notes he in- ° ° dorsed them in blank and turned the same over to plaintiff Allen to secure said Allen as surety on a note of $500 said Iler had given to another party.
Shortly after the first of the $100 notes became due Allen gave all five of these notes back into the hands of Iler,…
2Cases cited5 opinions
- Murray v. LardnerSupreme Court of the United States · 1865
- Napa Valley Wine Co. v. RinehartMissouri Court of Appeals · 1890
- Deere v. MarsdenSupreme Court of Missouri · 1885
- Franklin Savings Institution v. HeinsmanMissouri Court of Appeals · 1876
- Fogg v. School DistrictMissouri Court of Appeals · 1898
3Cited by2 opinions
- Nance v. HaywardMissouri Court of Appeals · 1914
- Barnard State Bank v. FeslerMissouri Court of Appeals · 1901