Security Bank & Trust Co. v. Dery
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, Security Bank and Trust Company, from a judgment of the Supreme Court in favor of the defendant, entered in the office of the clerk of the county of Essex on the 13th day of May, 1920, upon the verdict of a jury, and also from an order entered in said clerk’s office on the same day denying plaintiff’s motion for a new trial made upon the minutes.
1Opinion of the Court
H. T. Kellogg, J.:
It is provided in section 98 of the Negotiable Instruments Law as follows: “ Every holder is deemed prima facie to be a holder in due course; but when it is shown that the title of any person who has negotiated the instrument was defective, the burden is on the holder to prove that he or some person under* whom he claims acquired the title as a holder in due course.” It is provided in section 94 of the same law: “ The title of a person who negotiates an instrument is defective within the 'meaning of this chapter when he obtained the instrument, or any signature thereto, by…
2Cases cited2 opinions
- Vosburgh v. . DiefendorfNew York Court of Appeals · 1890
- Tradesmen's National Bank v. CurtisNew York Court of Appeals · 1901
3Cited by4 opinions
- Federal Credit Bureau, Inc. v. Narice Holding Corp.City of New York Municipal Court · 1930
- In re the Construction of the Will of ManningAppellate Division of the Supreme Court of the State of New York · 1921
- Asbestos Trading & Finance Co. v. HazenNew York Supreme Court · 1924
- Coopersmith v. MaunzAppellate Division of the Supreme Court of the State of New York · 1933