Morgan v. Cedar Rapids National Bank

Hill, O. J.

1. The holder of a negotiable note is presumed to be such bona fide and for value. Civil Code, § 3696. If this presumption stood alone, there were some circumstances from which the jury might have inferred a rebuttal; but the undisputed evidence of the payee of the note and of the holder thereof proved that the latter was a bona fide purchaser for value and before maturity; and therefore, as against the holder, the maker could not plead failure of consideration, and the court did not err in directing a verdict for the plaintiff. Civil Code, *700§3694; Wilson v. Carter, 4 Ga. App. 350…