Merchants' National Bank v. Haverhill Iron Works
Massachusetts Supreme Judicial Court
Contract, against the maker, and five other persons as indorsers, of a promissory note. At the trial in the Superior Court, before Bond, J., the defendants did not deny their signatures to the note, but defended on the ground that the note had been fraudulently put into circulation by the Potter-Lovell Company, and that the plaintiff did not take the note for value and without notice.
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Contract, against the maker, and five other persons as indorsers, of a promissory note. At the trial in the Superior Court, before Bond, J., the defendants did not deny their signatures to the note, but defended on the ground that the note had been fraudulently put into circulation by the Potter-Lovell Company, and that the plaintiff did not take the note for value and without notice. The defendants’ evidence tended to show that the note had been sent by the maker to the Potter-Lovell Company, a corporation organized under the laws of Massachusetts for the purpose of “ doing a brokerage…
1Opinion of the CourtMorton, J.
There was evidence tending to show that the note was put into circulation fraudulently by the Potter-Lovell Company, which received it from the defendants. The plaintiff was bound to show, therefore, that it took the note in good faith and for value before maturity. Emerson v. Burns, 114 Mass. 348. Sullivan v. Langley, 120 Mass. 437. The president and cashier of the plaintiff bank testified that such was the fact. The defendants introduced no testimony to contradict those officers, but claimed the right to go to the jury on the question whether the plaintiff took the note for value and…
2Cases cited3 opinions
- Twombly v. MonroeMassachusetts Supreme Judicial Court · 1884
- Sullivan v. LangleyMassachusetts Supreme Judicial Court · 1876
- Emerson v. BurnsMassachusetts Supreme Judicial Court · 1874
3Cited by28 opinions
- Lindenbaum v. New York, New Haven, & Hartford RailroadMassachusetts Supreme Judicial Court · 1908
- McNight v. ParsonsSupreme Court of Iowa · 1907
- Allen v. Puritan Trust Co.Massachusetts Supreme Judicial Court · 1912
- Poole v. First Nat. Bank of SmyrnaCourt of Appeals of Tennessee · 1946
- American National Bank v. FountainSupreme Court of North Carolina · 1908
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