Legal Opinion · Dissent
Lapp v. Merchants National Bank
Indiana Court of Appeals
Decided May 15, 1919No. 9,869Published
From Marion Superior Court (104,574); IF. W. Thornton, Judge. Action by the Merchants National Bank, of Indianapolis, against John A. Lapp. From a judgment for plaintiff, the defendant appeals.
1Dissent
Dissenting Opinion.
Dausman, J.
I cannot concur in the majority opinion in this cause, and I feel that it is my duty to state briefly the reasons why I dissent.
The averment in the complaint, which has engendered the controversy, is in the following words:
“That said Federal Loan Society, Inc., for value received in due course of business and before its maturity, to-wit: on September 1, 1915; assigned in writing and transferred said note to plaintiff.”
As used in §51 of the Negotiable Instruments Act, the words “a holder in due course” have a definite meaning. That meaning is clear' and…
2Cases cited11 opinions
- Ray v. BakerIndiana Supreme Court · 1905
- Giberson v. JolleyIndiana Supreme Court · 1889
- Tescher v. MereaIndiana Supreme Court · 1889
- First National Bank v. RuhlIndiana Supreme Court · 1890
- Johnson v. HarrisonIndiana Supreme Court · 1912
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