Curtis v. Mohr
Wisconsin Supreme Court
APPEAL from the Circuit Court for Dane County. Action to recover certain installments of interest on a promissory note executed by the defendant July 1, 1856, to the Watertown and Madison Bailroad Company, payable ten years from date, with interest payable semi-annually.
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APPEAL from the Circuit Court for Dane County. Action to recover certain installments of interest on a promissory note executed by the defendant July 1, 1856, to the Watertown and Madison Bailroad Company, payable ten years from date, with interest payable semi-annually. The complaint alleges that about December 1,1856, the railroad company executed its bond (which is set out in haec verba), for $5000, payable to L. J. Earwell or bearer, with interest coupons attached and containing an assignment of said note to the holder of the bond ; that about March 7,1857, said bond and note were duly…
1Opinion of the Court
By the Court,
Cole, J.
We suppose the law to be perfectly well settled that where a person takes a negotiable promissory note before maturity in the usual course of business, even as collateral security, and makes advances at the time upon the credit of such note, he is considered by all the authorities as a bona fide holder for value, within the rule for the protection of commercial paper. The indorsement and delivery of the note, under such circumstances, transfer to the holder the title to the instrument, and give him an original and paramount right of *619action upon it against the previous…
2Cases cited1 opinion
- Bond v. WiltseWisconsin Supreme Court · 1860
3Cited by5 opinions
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