Ryan v. Chew
Supreme Court of Iowa
Appeal from Dubuque District Qourt. This action was brought upon a negotiable promissory note, made by the defendant to one Thomas' Smith, and by him transferred before maturity to the plaintiffs. The defendant claims a set-off of a balance of an account due from Smith at the time of the transfer of the note.
Read the full summary
Appeal from Dubuque District Qourt. This action was brought upon a negotiable promissory note, made by the defendant to one Thomas' Smith, and by him transferred before maturity to the plaintiffs. The defendant claims a set-off of a balance of an account due from Smith at the time of the transfer of the note. The cause was submitted to the court, which found specially that “ the plaintiffs were not bona fide holders and owners of the note sued, but that the said note was transferred to them by the payee as collateral security for a pre-existing indebtedness.” Judgment was rendered for…
1Opinion of the Court
Baldwin, G. J.
Tke finding of tke court below tkat tke note sued on was transferred to plaintiff by tke payee tkereof, as collateral security for a pre-existing indebtedness, and tkat tke plaintiffs were not, therefore, bona fide kolders tkereof, is fully supported by tke evidence.
It is, kowever, claimed by counsel for tke appellants, tkat, even though tke plaintiffs should hold tke note as collateral security they would, nevertheless, be bona fide owners and kolders, and tke set-off would not be admissible.
It appears from tke evidence tkat tke note was made by defendant, Ckew, and delivered…
2Cases cited2 opinions
- Trustees of Iowa College v. HillSupreme Court of Iowa · 1861
- Shipman v. RobbinsSupreme Court of Iowa · 1859
3Cited by6 opinions
- Keokuk County State Bank v. HallSupreme Court of Iowa · 1898
- Union National Bank v. BarberSupreme Court of Iowa · 1881
- Bone v. TharpSupreme Court of Iowa · 1884
- Reed, Murdoch & Co. v. Brown Bros.Supreme Court of Iowa · 1893
- Flannigan v. Althouse, Wheeler & Co.Supreme Court of Iowa · 1881
1 more not listed; retrieve them via the Exa API.