Hurt v. Wiley

1. Any person indorsing or transferring a note may limit his own liability upon such indorsement or transfer, but he must do so by express restrictions contained in the indorsement or transfer. Civil Code, § 4275.

2. The holder of a negotiable note is presumed to be a bona fide purchaser for value; and such a holder could maintain suit on the note against a payee signing a transfer indorsed thereon as follows: “I hereby transfer my interest in this note to” J. W. B.; the suit being against the original maker and the person so indorsing. “Where the payee of such an instrument, by a writing…