Commercial Security Co. v. Main Street Pharmacy
Supreme Court of North Carolina
Civil actioh, tried before Kerr, J., and a jury, at March Term, 1917, •of DURHAM. Tbe action was to recover on seven promissory notes, of $125 each, all ■due at time of action commenced, executed by defendant to tbe American Manufacturing Company, and of wbieb plaintiff claimed to be tbe ■endorsee and bolder in due course.
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Civil actioh, tried before Kerr, J., and a jury, at March Term, 1917, •of DURHAM. Tbe action was to recover on seven promissory notes, of $125 each, all ■due at time of action commenced, executed by defendant to tbe American Manufacturing Company, and of wbieb plaintiff claimed to be tbe ■endorsee and bolder in due course. Defendant denied tbat plaintiff was endorsee or bolder in due course; .alleged tbat tbe notes were procured by fraud and misrepresentation on tbe part of tbe payee, and plead further tbat tbe notes sued on were part and parcel of one and tbe same transaction in which…
1Opinion of the CourtHoke, J.
Our decisions construing the statute on negotiable instruments (chapter 54 of the Revisal) are to the effect that, except in case of instruments payable to bearer, in order to constitute one a holder in due course, there should be an endorsement, and when such fact is denied, as it is in this instance, the same must be established by proper proof. Bank v. Clark, 172 N. C., 268; Park v. Exum, 156 N. C., 228-230; Myers v. Petty, 153 N. C., 462; Mayers v. McRimmon, 140 N. C., 640; Tyson v. Joyner, 139 N. C., 69. On this subject, the statute in question (section 2179) requires that an endorsement…
2Cases cited7 opinions
- American National Bank v. FountainSupreme Court of North Carolina · 1908
- Mayers v. McRimmon.Supreme Court of North Carolina · 1906
- Tyson v. Joyner.Supreme Court of North Carolina · 1905
- Park v. . ExumSupreme Court of North Carolina · 1911
- Myers v. PettySupreme Court of North Carolina · 1910
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3Cited by3 opinions
- William Whitman, Inc. v. YorkSupreme Court of North Carolina · 1926
- Bergmann v. RollWisconsin Supreme Court · 1928
- Waddell v. Hood Ex Rel. Peoples Bank of BurnsvilleSupreme Court of North Carolina · 1934