Mayfair v. Citizens National Bank

1. A promissory note which recites that it is made “for value received,” and which is assigned and transferred by indorsement, is presumably both executed and transferred and assigned for a valuable consideration. In a suit on a note, where it appears from the petition that the note recites that it was given for value received, and where it is alleged in the petition that the payee named in the note indorsed, transferred, and assigned it to another person, who afterwards indorsed, transferred, and assigned it to the plaintiff, it is not necessary to allege that the note was executed or…