Bank of Winona v. Wofford
Mississippi Supreme Court
From the circuit court of Webster county. Hon. C. H. Campbell, Judge. Action by appellant, the Bank of Winona, to recover of the appellees, M. T. Wofford, H. IT. Womack and A. P. Magness, on a promissory note. The note was made by defendants, payable to the order of themselves, and by them indorsed in blank, and delivered to the Webster Bank, in consideration of a loan of money.
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From the circuit court of Webster county. Hon. C. H. Campbell, Judge. Action by appellant, the Bank of Winona, to recover of the appellees, M. T. Wofford, H. IT. Womack and A. P. Magness, on a promissory note. The note was made by defendants, payable to the order of themselves, and by them indorsed in blank, and delivered to the Webster Bank, in consideration of a loan of money. Before maturity of the note it was indorsed by said bank, and acquired in good faith, and for value, by appellant. The makers of the note pleaded, aud offered evidence to show, that before notice to them that the…
1Opinion of the CourtCampbell, C. J.
It has long been the settled doctrine of this court that a promissory note or bill of exchange, which passes by mere delivery, and does not require assignment to confer title to it, but as to which the holder deidves title independently of indorsement and by the very terms of the express contract which the maker has issued to the world, is not within the scope and effect of our anti-commercial statute, and that no defense existing between the original parties can be set up in bar of a recovery by one who acquired the paper in good faith, for value, before maturity. Craig v. Vicksburg, 31…
2Cases cited2 opinions
- Moses v. Lawrence County BankSupreme Court of the United States · 1893
- Craig v. City of VicksburgMississippi Supreme Court · 1856
3Cited by2 opinions
- Columbus Insurance & Banking Co. v. First National BankMississippi Supreme Court · 1895
- Moore v. Johnson County Savings BankMississippi Supreme Court · 1912