Turman v. Ward's Home Improvement, Inc.

By Judge James W. Haley, Jr.

The question here for resolution is whether an assignee of the payee of a negotiable instrument is a holder in due course, and as such immune to defenses that the makers might raise against the payee of the negotiable instrument For the purposes of this opinion the court assumes arguendo that the instrument is in fact negotiable. The court makes no such finding. The pertinent facts can be concisely stated.

G. Michael Turman and Carolyn May Cash Turman executed a deed of trust note dated February 23, 1993, for $107,500.00 payable to Ward’s Home Improvement Inc. The…