Bensley v. Bartholf

This is not a suit at law on a negotiable instrument. It is a proceeding in equity to foreclose a mortgage— a non-negotiable instrument—and the rights of the parties are controlled by equitable principles. In accordance with these principles, it has been held uniformly in this state that: “He who buys that which is not assignable at law, relying upon a court of chancery to protect and enforce his rights, takes it subject to all infirmities to which it is liable in the hands of the assignor; and the reason is, that equity will not lend itself to deprive a party of a right which the law has…