Pike v. First National Bank of Rome

Townsend, Judge.

Whether or not the direction of a verdict in favor of the plaintiff was error must be determined by whether or not the plaintiff is a holder in due course or only an agent of its depositor, for the reason that the defendant Pike, the maker of the cheeks, had a good defense against Dixie Auto Auction and Andrews Motor Company based on failure of consideration which, if it might be urged against the bank, would defeat the action. (Code § 14-508). Code § 14-502 provides: “A holder in due course is a holder who has taken the instrument under the following conditions: (1) That it…