Payne v. Bensley
California Supreme Court
Appeal from the District Court of the Twelfth Judicial District, County of San Francisco. Theodore Payne, as plaintiff, brought this action iu the Court below, against John Bensley, on his promissory note, made payable to one Atwill, and by Atwill assigned to him.
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Appeal from the District Court of the Twelfth Judicial District, County of San Francisco. Theodore Payne, as plaintiff, brought this action iu the Court below, against John Bensley, on his promissory note, made payable to one Atwill, and by Atwill assigned to him. Tlio defendant answered, admitting the execution and delivery of the note, but averred that the same was part of the purchase-money of a certain lot sold by Atwill to defendant, and that by a contract of even date with the note, Atwill agreed with the defendant, in case that the title of said lot failed, and defendant was evicted…
1Opinion of the CourtBurnett, J.
The only question in this case is, whether a negotiable premissary note not yet due, and bona fide taken as collateral security for a pre-existing debt, is subject, in the hands of the endorsee, to any defence existing at the date of the assignment, between the original parties.
■ The authorities on this point have been conflicting; and the research and industry of counsel have brought b'efore us the leading decisions on both sides of .this question. It will not be necessary to attempt a review of the numerous authorities to which we have been referred. The greater number of decisions would…
2Cases cited3 opinions
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