Farmers & Merchants Bank v. Miller

1. Prior to tlie passage of what is known as the uniform negotiable instruments law, the holder of a promissory note was not protected from the maker’s defense that the consideration thereof was immoral and illegal, even though the holder may have purchased the note before it was due, and without notice of any defect therein or *669defense thereto. Thus, a promissory note given in the year 1921 for the purchase-price of liquors sold in violation of the law is unenforceable, even in the hands of a bona fide holder for value, who takes the same without notice of the consideration. Civil Code…