Gray v. Oglesby

Powéll, J.

Oglesby sued Gray upon a promissory note. The note was originally payable to Oglesby & Cozine, alleged to be a partnership composed of Z. W. Oglesby Jr. and John W. Cozine; but on the back was an indorsement in their name, transferring the note to Z. W. Oglesby, the plaintiff. The plaintiff claimed to bo a bona fide holder for value. The defendant set up that there had been a failure of consideration, and that the note had been fradulently transferred for the purpose of cutting off his defense, and that, while Z. W. Oglesby was nominally the holder, it was really owned by Oglesby &…