J. L. Smathers & Co. v. Toxaway Hotel Co.
Supreme Court of North Carolina
Appeal by defendants from Foush&e, J., at November Term, 1912, of BuNCombe, Civil action in nature of creditor’s bill. The relevant facts are very correctly stated in one of the briefs as follows: “On 13 November, 1906, the Toxaway Hotel Company executed a bill of sale conveying to R. A. Jacobs certain merchandise, cattle, and other personal property in Transylvania and Jackson counties; on the said day said Jacobs executed to the Toxaway Hotel Company, as payment for said…
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Appeal by defendants from Foush&e, J., at November Term, 1912, of BuNCombe, Civil action in nature of creditor’s bill. The relevant facts are very correctly stated in one of the briefs as follows: “On 13 November, 1906, the Toxaway Hotel Company executed a bill of sale conveying to R. A. Jacobs certain merchandise, cattle, and other personal property in Transylvania and Jackson counties; on the said day said Jacobs executed to the Toxaway Hotel Company, as payment for said property, fourteen (14) notes of $500 each, one payable each successive three months thereafter, and at the same time…
1Opinion of the CourtHoxe, J.
Our statute on negotiable instruments, Eevisal, ch. 54/ sec. 2205, makes provision as follows: “To constitute notice of an infirmity in tbe instrument or defect in tbe title of tbe person negotiating tbe same, tbe person to whom it is negotiated must have bad actual knowledge of tbe infirmity or defect or knowledge of sucb facts that bis action in taking tbe instrument amounted to bad faith.”
A perusal of tbe record will disclose that tbe court below, on tbe third and fourth issues, at first charged tbe jury in substantial accord with tbe statute. Tbe only criticism suggested is that, having…
2Cases cited12 opinions
- Carpenter v. LonganSupreme Court of the United States · 1873
- Logan v. SmithSupreme Court of Missouri · 1876
- Tescher v. MereaIndiana Supreme Court · 1889
- Atlas National Bank v. SaveryMassachusetts Supreme Judicial Court · 1879
- Hulbert v. . DouglasSupreme Court of North Carolina · 1886
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3Cited by10 opinions
- Bland v. Fidelity Trust Co.Supreme Court of Florida · 1916
- Critcher v. . BallardSupreme Court of North Carolina · 1920
- Sumner v. . SumnerSupreme Court of North Carolina · 1947
- American Exchange National Bank v. SeagrovesSupreme Court of North Carolina · 1914
- Holleman v. Harnett County Trust Co.Supreme Court of North Carolina · 1923
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