Luden v. Enterprise Lumber Co.
Supreme Court of Georgia
Complaint. Before Judge Pendleton. Fulton superior court. December 15, 1915. W. H. Luden brought suit against the Enterprise Lumber Company as principal, and A. B. Steele as indorser, alleging that the defendants were indebted to him in the sum of $2500 on a promissory note for that amount, which note recited that it was payable to A. B. Steele, and was signed, “Enterprise Lumber Company, by A. B. Steele, Pres.;” and that “petitioner is the holder and owner for value…
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Complaint. Before Judge Pendleton. Fulton superior court. December 15, 1915. W. H. Luden brought suit against the Enterprise Lumber Company as principal, and A. B. Steele as indorser, alleging that the defendants were indebted to him in the sum of $2500 on a promissory note for that amount, which note recited that it was payable to A. B. Steele, and was signed, “Enterprise Lumber Company, by A. B. Steele, Pres.;” and that “petitioner is the holder and owner for value received before maturity, and without notice.” Before verdict the plaintiff struck the words, “for value received before…
1Opinion of the CourtGilbert, J.
(After stating the foregoing facts.)
1. One of the reasons assigned by the defendants why the note *286was not enforceable against them was that it was wholly without consideration. The plaintiff, on the other hand, insisted that the note was not without consideration, because the defendants had received in return therefor a similar note from the Gr. M. Britton Company. The Civil Code (1910), § 4-291, declares: “Any circumstance which would place a prudent man upon his guard, in purchasing negotiable paper, shall be sufficient to constitute notice to a purchaser of such paper before it is due.”…
2Cases cited12 opinions
- Kenyon Realty Co. v. National Deposit BankCourt of Appeals of Kentucky · 1910
- Frankland v. JohnsonIllinois Supreme Court · 1893
- Exchange Bank v. ThrowerSupreme Court of Georgia · 1903
- Capital City Brick Co. v. JacksonCourt of Appeals of Georgia · 1907
- Fidelity Trust Co. v. MaysSupreme Court of Georgia · 1914
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Hill v. DanielCourt of Appeals of Georgia · 1936
- Darelius v. Commonwealth Mortgage Co.Supreme Court of Minnesota · 1922
- Henderson Lumber Co. v. Chatham Bank & Trust Co.Court of Appeals of Georgia · 1924
- D. A. D., Inc. v. Citizens & Southern BankSupreme Court of Georgia · 1971
- Gilman v. F. O. Bailey Carriage Co.Supreme Judicial Court of Maine · 1925
3 more not listed; retrieve them via the Exa API.