Bailey v. Mills

SIMPSON, Justice.

Bill by appellees, Mills, to cancel their note and mortgage given on a lot in Mobile, Alabama, and for other relief.

The payee of these instruments had, prior to their maturity, transferred and delivered them to appellants, who claimed to be holders in due course.

On the evidence presented it was satisfactorily shown that there was a failure of consideration of the instruments, which would have entitled the appellees to rescind the transaction incident to their execution and to have them cancelled as against the original holder. So the real question is whether tthe appellants…