Cairo Banking Co. v. Hall

1. A transferee of a negotiable promissory note does not take it subject to any rights or equities between the original parties to the note which arise and come .into existence after the transfer. Georgia State Bank v. Harden, 32 Ga. App. 300 (124 S. E. 68) and eases there cited. This is true notwithstanding the consideration of the note may, with the knowledge of the transferee, have been corporate stock to which the maker had subscribed and which was to be issued by a corporation which at the time was being promoted. Ga. L. 1912, pp. 153-4; Michie's Code, § 4294 (196, 197).

2. The holder, as…