Trustees of Iowa College v. Hill
Supreme Court of Iowa
Appeal from Scott District Court. Assumpsit upon a promissory note for $8,629 81, paya- ■ ble to the order of Joseph Lambrite, and transferred to plaintiff before maturity. The defense is, in substance, a want of consideration, the answer further averring that plaintiff had notice thereof, or if not, that the note was not transferred in due course of trade for value. Upon the issue thus made, there was a trial, verdict and judgment for defendant, and plaintiffs appeal.
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Appeal from Scott District Court. Assumpsit upon a promissory note for $8,629 81, paya- ■ ble to the order of Joseph Lambrite, and transferred to plaintiff before maturity. The defense is, in substance, a want of consideration, the answer further averring that plaintiff had notice thereof, or if not, that the note was not transferred in due course of trade for value. Upon the issue thus made, there was a trial, verdict and judgment for defendant, and plaintiffs appeal. I. To charge an assignee of a note with notice of fraud, or want of consideration in its inception, such notice must be…
1Opinion of the CourtWright, J.
This case has been very fully argued by counsel; seldom have we found one more so. We have examined it with great care, and now proceed to state our conclusions, without much elaboration of the points made.
Three questions of fact, under the instructions of the court, were presented for the determination of the jury: First, Was the note obtained without consideration ? Second, Had plaintiffs notice of this before taking the same ? Third, If they had not this notice, did they take it for val-tue in the due course of trade. It is manifest that the jury* must have found for the defendant upon the…
2Cases cited4 opinions
- Swift v. TysonSupreme Court of the United States · 1842
- Moffitt v. CresslerSupreme Court of Iowa · 1859
- Johnson v. Barney & Co.Supreme Court of Iowa · 1855
- Kelly v. FordSupreme Court of Iowa · 1856
3Cited by25 opinions
- Knoxville National Bank v. ClarkSupreme Court of Iowa · 1879
- Koehler v. DodgeNebraska Supreme Court · 1891
- Farber v. National Forge & Iron Co.Indiana Supreme Court · 1894
- Keokuk County State Bank v. HallSupreme Court of Iowa · 1898
- Lehman v. PressSupreme Court of Iowa · 1898
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