Park v. . Exum
Supreme Court of North Carolina
Appeal from Justice, J., at January Special Term, 1911, of LENOIR. Plaintiff sued, claiming to be indorsee for value and bolder in due course of a negotiable note for $500, given by defendants to McLaughlin Bros., in part obligation for purchase price of a stallion.
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Appeal from Justice, J., at January Special Term, 1911, of LENOIR. Plaintiff sued, claiming to be indorsee for value and bolder in due course of a negotiable note for $500, given by defendants to McLaughlin Bros., in part obligation for purchase price of a stallion. The deposition of plaintiff was introduced, containing full and direct statement that plaintiff bought the note for full value and same was duly indorsed to him by the payees before maturity and without notice of any fraud or other infirmity affecting its validity. The indorsement was denied in the pleadings, and there were also…
1Opinion of the Court
Hoee, J.,
after stating the case: Our statute on negotiable instruments, as applied and construed in several recent decisions of the Court, is to the effect that in order to establish the position of holder in due course, when required to shut off counterclaims and defenses otherwise available, it must be shown that the instrument is complete and regular on its face and that title thereto was acquired in good faith and for value before maturity and without knowledge or notice of fraud or other impeaching circumstance, and, except in case of instruments payable to bearer, when the indorsement…
2Cases cited11 opinions
- Withers v. . LaneSupreme Court of North Carolina · 1907
- May v. . LoomisSupreme Court of North Carolina · 1905
- State v. . DixonSupreme Court of North Carolina · 1876
- Whitehurst v. . Insurance Co.Supreme Court of North Carolina · 1908
- American National Bank v. FountainSupreme Court of North Carolina · 1908
6 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- State v. CanipeSupreme Court of North Carolina · 1954
- Speed v. PerrySupreme Court of North Carolina · 1914
- State v. CookSupreme Court of North Carolina · 1913
- State v. . RhinehartSupreme Court of North Carolina · 1936
- Morris v. Kramer Bros.Supreme Court of North Carolina · 1921
17 more not listed; retrieve them via the Exa API.