Dube v. Cromwell Drug Co.

Plaintiff has been granted summary judgment on a series of notes of which defendant-appellant is the maker, plaintiff’s nephew is the payee, and plaintiff the holder by his nephew’s indorsement. The answer pleads as defenses failure of consideration for the notes and that the issuance of the notes was ultra vires, all to plaintiff’s knowledge, so that he was not a purchaser in good faith.. It appears from the moving and answering affidavits that underlying the issuance and indorsement of the notes was a business association between defendant corporation and plaintiff’s nephew financed by…