Neely v. Black
Supreme Court of Arkansas
Appeal from Little River Circuit Court; James S. Steel, Judge; The court erred in giving the fifth instruction .requested by defendant. An indorsement without recourse is effective to transfer the legal title to the instrument, but does not render the indorser liable thereon in case of its non-acceptance or non-payment. 4 Am. & Eng. Enc. Law (2 Ed.), 276; Chitty on Bills, 13 Am. Ed. 235; Story on Prom. Notes, 146; 18 la. 202; 24 Kan. 604; 12 Kan. 618; 33 Me. 424; 5 Met.
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Appeal from Little River Circuit Court; James S. Steel, Judge; The court erred in giving the fifth instruction .requested by defendant. An indorsement without recourse is effective to transfer the legal title to the instrument, but does not render the indorser liable thereon in case of its non-acceptance or non-payment. 4 Am. & Eng. Enc. Law (2 Ed.), 276; Chitty on Bills, 13 Am. Ed. 235; Story on Prom. Notes, 146; 18 la. 202; 24 Kan. 604; 12 Kan. 618; 33 Me. 424; 5 Met. (Mass.), 201; 23 Wend. (N. Y.), 301; 8 Pa. St. 468; 46 Pa. St. 140; 18 Vt. 479. It does not affect the negotiability of the…
1Opinion of the CourtBattle, J.
K. B. Neely brought this action against W. A. Black on a promissory note executed by the defendant to the Crestón Loan & Trust Company for the sum of $400, and assigned by the payee to plaintiff; alleging that the note was unpaid. The defendant answered, and admitted that he executed the note, and alleged that the payment of the note was secured by a mortgage on lands in the county of Adair and State of Iowá, executed by himself and wife; that “at the time of its execution defendant was indebted to one J. R. Barcroft, of Iowa, in the sum of $636, evidenced by a note then past due; that…
2Cases cited4 opinions
- Marshall v. . DaviesNew York Court of Appeals · 1879
- Marsh v. PikeNew York Court of Chancery · 1844
- Cornell v. PrescottNew York Supreme Court · 1847
- Benjamin v. Loughborough's Adm'rSupreme Court of Arkansas · 1876
3Cited by6 opinions
- Plunkett v. State National BankSupreme Court of Arkansas · 1909
- Ross v. Title Guarantee & Trust Co.California Court of Appeal · 1934
- Continental National Bank v. ColeIdaho Supreme Court · 1931
- Robertson v. American Investment Co.Supreme Court of Arkansas · 1926
- Hankins v. Merchants' & Planters' BankSupreme Court of Arkansas · 1923
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