Smith v. Corege
Supreme Court of Arkansas
APPEAL from Garland Circuit Court. J. B. Wood, Judge. Louise Corege sued Smith on an account for $150.00, money had and received, and $10.00, the costs oí a suit wherein she was plaintiff and W. H. Hite, defendant. The facts were as follows: Smith negotiated a loan of $140.00 from Dr. A. U. Williams to W. H. Hite, evidenced by a note for that amount, bearing ten per cent interest, secured by a mortgage on realty. Before the note was delivered to Williams, Smith endorsed it.
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APPEAL from Garland Circuit Court. J. B. Wood, Judge. Louise Corege sued Smith on an account for $150.00, money had and received, and $10.00, the costs oí a suit wherein she was plaintiff and W. H. Hite, defendant. The facts were as follows: Smith negotiated a loan of $140.00 from Dr. A. U. Williams to W. H. Hite, evidenced by a note for that amount, bearing ten per cent interest, secured by a mortgage on realty. Before the note was delivered to Williams, Smith endorsed it. When the note fell due, Hite failed to pay it. Smith went to Mrs. Corege, and told her that he had a good chance to lend…
1Opinion of the CourtCoCKRlLL, C. J.
impiiedW?nra"í tifSrabie "by delivery. When a promissory note is transferable by delivery without endorsement, one who so transfers jncurS; not the obligations of an endorser but, the liability of a vendor.v There is not only an implied warranty that he assigns a good title, and that the paper is what it purports to be, but also that there is no legal defense to the collection growing out of his own connection with its origin. Story on Prom. Notes, secs. 117-8; Chitty on Bills, 246; Challis v. McCrum, 22 Kan., 157, and cases cited. Doubtless good faith and fair dealing demand and have…
2Cases cited6 opinions
- Delaware Bank v. . JarvisNew York Court of Appeals · 1859
- Challiss v. McCrumSupreme Court of Kansas · 1879
- Bell v. . DaggNew York Court of Appeals · 1875
- Milks v. . RichNew York Court of Appeals · 1880
- King v. SummittIndiana Supreme Court · 1881
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Carroll v. NodineOregon Supreme Court · 1902
- Voris v. Star City Building & Loan Ass'nIndiana Court of Appeals · 1898
- Armstrong v. McCluskeySupreme Court of Arkansas · 1933
- May v. DyerSupreme Court of Arkansas · 1893
- McFarling v. CareyCourt of Appeals of Texas · 1912
1 more not listed; retrieve them via the Exa API.