Petillon v. Noble
Illinois Supreme Court
Appeal from the Superior Court of Cook county; the Hon. S. M. Moore, Judge, presiding. This was a bill in chancery, for an injunction to restrain the negotiation of certain promissory notes, and the foreclosing of a certain chattel mortgage given to secure their payment, and to compel the same to be delivered up for cancellation.
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Appeal from the Superior Court of Cook county; the Hon. S. M. Moore, Judge, presiding. This was a bill in chancery, for an injunction to restrain the negotiation of certain promissory notes, and the foreclosing of a certain chattel mortgage given to secure their payment, and to compel the same to be delivered up for cancellation. The bill alleged, that on the 26th of May, 1873, the complainants, the appellants, executed to W. T. Noble & Co., a portion of the appellees, their nine promissory notes, payable at certain periods after date, and a chattel mortgage to secure their payment, upon the…
1Opinion of the CourtJustice Sheldon
The evidence submitted on the hearing of the motion to dissolve the injunction, shows, very satisfactorily, that the notes in question were purchased by the Central National Bank of Chicago, from W. T. Noble & Co., on the 4th day of June, 1873, for a full consideration, then paid in good faith, without notice of the alleged defense to them, and that they were, at the same time, duly assigned, by indorsement thereon, to the bank. The bank, then, being the innocent holder of the notes by purchase for value before maturity, the alleged failure of consideration, in whole or in part, as regards…
2Cases cited1 opinion
- Olds v. CummingsIllinois Supreme Court · 1863
3Cited by5 opinions
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- United States Express Co. v. SmithAppellate Court of Illinois · 1889
- Belt v. WinsorAppellate Court of Illinois · 1890