Battaglino v. Industrial Trust Co.

The Chancellor :

There is apparently a difference of opinion between the solicitors for the respective parties upon whether the note in .question is a negotiable instrument. The question was not however pressed for decision at this stage of the case.

The assumption for purposes of the demurrer is that the note is a negotiable one, and the question of pleading arises of whether the bill should show that the defendant as endorsee is not a holder in due course freed of the equities available to the maker against the payee.

A holder in due course is defined by the Negotiable Instruments Act of this…