Moon v. . Simpson
Supreme Court of North Carolina
Appeal by intervenor from Lyon,. J., at March Term, 1915, of Guilford. This action was brought to recover damages sustained upon the sale of a carload of wheat by the defendant, Simpson, to the plaintiffs.
Read the full summary
Appeal by intervenor from Lyon,. J., at March Term, 1915, of Guilford. This action was brought to recover damages sustained upon the sale of a carload of wheat by the defendant, Simpson, to the plaintiffs. On the day the action was commenced the plaintiffs procured a warrant of attachment and had the same levied on the sum of one thousand and eighty-six and twenty-seven hundredths dollars ($1,086.27), paid by the plaintiffs to the American Exchange National Bank, to cover a certain draft to which was attached a bill of lading for the purchase price of another carload of wheat. Thereafter, the…
1Opinion of the CourtAllekt, J.
The burden is upon the holder of a negotiable instrument payable to order, which has been indorsed, to prove the indorsement (Tyson v. Joyner, 139 N. C., 69), and when he does so he is deemed prima facie to be a holder in due course (Rev., sec. 2208), that is, he is deemed primia facie to be a purchaser in good faith for value, before maturity, and without notice of any infirmity in the instrument or of any defect in the title of the person negotiating it. Rev., sec. 2201. He is not required to prove that he paid value for the instrument, as the statute furnishes this evidence for him. The…
2Cases cited9 opinions
- Evans v. Freeman.Supreme Court of North Carolina · 1906
- American National Bank v. FountainSupreme Court of North Carolina · 1908
- Tyson v. Joyner.Supreme Court of North Carolina · 1905
- Manufacturing Co. v. . SummersSupreme Court of North Carolina · 1906
- Smathers v. Toxaway Hotel Co.Supreme Court of North Carolina · 1915
4 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Patterson v. Merrill Lynch, Pierce, Fenner & Smith, Inc.Supreme Court of North Carolina · 1966
- William Whitman, Inc. v. YorkSupreme Court of North Carolina · 1926
- Embden State Bank v. SheaNorth Dakota Supreme Court · 1923
- Woody v. Carolina Spruce Co.Supreme Court of North Carolina · 1918
- Standard Inv. Co. v. Town of Snow Hill, N. C.Court of Appeals for the Fourth Circuit · 1935
3 more not listed; retrieve them via the Exa API.