Baldwin Realty Co. v. Interstate Trust & Banking Co.

I think it a matter of importance that it be decided whether the promissory note, executed by the Baldwin Realty Company, was negotiable or not. In my view, the negotiability of the note was destroyed by the clause found in the third paragraph reading: “Sub jeet to the terms of which said sprinkler contract this note is issued, secured, negotiated and held.” The effect of this clause is to attach to the promise to pay the conditions of a contract, such, for instance, as the fulfillment of the conditions of warranty, and all other conditions which there may be in the contract, thereby making…