Union State Bank v. Savord

There is no question in this case but that the promissory note involved wasr negotiated for value before due. The defense relies on his claim that the plaintiffs are not holders in due course. The statute, sec. 116.57, provides:

“A holder in due course is a holder who has taken the instrument under the following conditions:

“ (1) That it is complete and regular upon its face;

■ “(2) That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact;

"(3) That he took it in good faith and for value.

“(4) That at the time it was…