Merchants National Bank v. Norris
Supreme Court of Alabama
Appeal from Walker Circuit Court. Heard before Hon. James J. Bay. Action by tbe Merchants’ National Bank of La Fayette, Ind., against J. A. Norris and others. Judgment for defendants, and plaintiff appeals. Counts 2 and 3 describe tbe notes as payable to tbe order of J Couch & Sons, at tbe Jasper Trust Company’s Bank, Jasper, Ala., and allege that they have been duly transferred to tbe plaintiff, and are tbe property of tbe plaintiff.
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Appeal from Walker Circuit Court. Heard before Hon. James J. Bay. Action by tbe Merchants’ National Bank of La Fayette, Ind., against J. A. Norris and others. Judgment for defendants, and plaintiff appeals. Counts 2 and 3 describe tbe notes as payable to tbe order of J Couch & Sons, at tbe Jasper Trust Company’s Bank, Jasper, Ala., and allege that they have been duly transferred to tbe plaintiff, and are tbe property of tbe plaintiff. Count 1 describes tbe notes as payable to tbe order of J Couch & Sons, but contains no allegations as to where payable. Pleas 2 and 3 allege fraud in procuring…
1Opinion of the Court
ANDERSON, .J.
It is an elementary principle of law that commercial paper in the hands of a bona fide purchaser for value before maturity is not subject to *483defenses which would he available against the original payee, unless it is shown that such purchaser had notice of such defenses. The. special pleas of the defendants, as amended, setting up fraud in securing the signature, suretyship, failure of consideration, and breach of warranty, etc., may have set up a prima facie defense to the notes, so as to put the plaintiff to a replication, setting out that they were commercial paper and…
2Cases cited6 opinions
- Alabama National Bank v. HalseySupreme Court of Alabama · 1895
- Guild v. ThomasSupreme Court of Alabama · 1875
- Marks v. First National BankSupreme Court of Alabama · 1885
- White Sewing Machine Co. v. SaxonSupreme Court of Alabama · 1898
- Johnson v. Hanover National BankSupreme Court of Alabama · 1889
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Jones v. BellSupreme Court of Alabama · 1917
- Somerall v. Citizens' BankSupreme Court of Alabama · 1924
- Commercial Credit Co. v. SealeAlabama Court of Appeals · 1942
- Guiterman, Rosenfield & Co. v. CulbrethSupreme Court of Alabama · 1929
- Metropolitan Discount Co. v. StewartAlabama Court of Appeals · 1919
1 more not listed; retrieve them via the Exa API.