Etheridge v. Gallagher
Mississippi Supreme Court
Appeal from the Chancery Court of Noxubee County. Hon. L. Brame, Chancellor. A statement of the case will be found in the opinion of the court. 1. Gallagher is not a bona-fide holder of the note without notice of the equities between the previous parties to the instrument; for he took it after maturity, and, being a dishonored note, he takes it subject to all the equities existing Between the prior parties, and with no better right than his immediate indorser had. 2. Our…
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Appeal from the Chancery Court of Noxubee County. Hon. L. Brame, Chancellor. A statement of the case will be found in the opinion of the court. 1. Gallagher is not a bona-fide holder of the note without notice of the equities between the previous parties to the instrument; for he took it after maturity, and, being a dishonored note, he takes it subject to all the equities existing Between the prior parties, and with no better right than his immediate indorser had. 2. Our statute overthrows the common-law doctrine that the bona-fide holder of negotiable paper, taken in the usual Course of…
1Opinion of the CourtSimrall, C. J.
Lewis Etheridge and wife sold and conveyed a lot in the town of Macon to Fines E. Carlton, for $4-,000, $1,000 paid on the spot, and the balance in instalments of one, two, and three years, represented by promissory notes due respectively the first of January, 1874, 1875, and 1876. Etheridge and wife gave bond to make the conveyance on complete payment of the money. Etheridge and wife transferred by indorsement the note falling due January 1, 1874, to William F. Eiland, who negotiated it for a valuable consideration, and indorsed and delivered it to Charles Gallagher.
Gallagher, with E. I.…
2Cases cited10 opinions
- Murray v. LardnerSupreme Court of the United States · 1865
- Andrews v. PondSupreme Court of the United States · 1839
- Arents v. CommonwealthSupreme Court of Virginia · 1868
- Texas v. HardenbergSupreme Court of the United States · 1869
- Foley v. SmithSupreme Court of the United States · 1868
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