Davis v. Miller
Supreme Court of Virginia
This was an action of debt in the Circuit court of Essex county, brought by Miller & Mayhew against R. M. Davis, to recover the amount of a note for six hundred and ninety-four dollai’s and seventy-five cents, payable six months after date, at the Exchange Bank at Richmond. The declaration was in the common form. • The note was executed by Davis to Edward L. Eant & Co., and was endorsed by them to the plaintiffs after it fell due.
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This was an action of debt in the Circuit court of Essex county, brought by Miller & Mayhew against R. M. Davis, to recover the amount of a note for six hundred and ninety-four dollai’s and seventy-five cents, payable six months after date, at the Exchange Bank at Richmond. The declaration was in the common form. • The note was executed by Davis to Edward L. Eant & Co., and was endorsed by them to the plaintiffs after it fell due. The defendant pleaded nil debet; and payment before notice of assignment: on which issue was joined. On the trial it was proved that the note was regularly…
1Opinion of the CourtMoncure, J.
Several questions arise in this case. I will consider in the first place the main one, which is j
Whether payment made by the maker to the payee or endorser of a negotiable note, after it has been protested for non-payment, taken up by the latter, and transferred by him to a creditor as collateral security of a larger debt, such payment being made without knowledge of the transfer, is a good defence to an ac*5tion brought on the note by the transferee and holder against the maker ?
A negotiable note may be transferred at any time while it remains a good, subsisting, unpaid note, whether before or…
2Cases cited1 opinion
- Pleasants v. PendletonSupreme Court of Virginia · 1828
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