Legal Opinion
Southeastern Rubber Works v. National Discount Co.
Court of Appeals of Georgia
Decided June 17, 1921No. 12296PublishedCited by 2 opinions
Complaint; from Bibb superior court — Judge Malcolm D. Jones. February 7, 1921.
1Opinion of the CourtHill, J.
1. The holder of a negotiable promissory note is presumed to be such bona fide and for value and before due. If the transfer of the note is without date, it is presumed to have been made before maturity. Civil Code (1910), § 4288; Wade v. Elliott, 11 Ga. App. 646 (75 S. E. 989); Rhodes v. Beall, 73 Ga. 641.
2. The defense of set-off is not applicable to a negotiable note transferred for an adequate consideration before maturity, even though the transferee purchased the note with notice of the claim of set-oil. Daniel’s Negotiable Instruments, § 1435; Harrisburg Trust Co. v. Shufeldt, 87 Fed.…
2Cases cited5 opinions
- Rhodes v. BeallSupreme Court of Georgia · 1884
- Harrisburg Trust Co. v. ShufeldtCourt of Appeals for the Ninth Circuit · 1898
- Wade v. ElliottCourt of Appeals of Georgia · 1912
- Reece v. Citizens BankCourt of Appeals of Georgia · 1918
- First National Bank of Grafton v. DanserWest Virginia Supreme Court · 1912
3Cited by2 opinions
- Pritchett v. KingCourt of Appeals of Georgia · 1937
- Silver v. SellersCourt of Appeals of Georgia · 1939