Shipman v. Robbins
Supreme Court of Iowa
Appeal from Linn District Oourl. ActioN on a promissory note, payable to Havens or order. The defendant answered, averring that the note was assigned after maturity, and setting up by way of set-off, an account for work and labor done, &c.,by- him for the payee, and held at the time of tho assignment. To this answer there was a demurrer, which was sustained, and judgment rendered for plaintiff.
1Opinion of the CourtWeight, C. J.
When it is said in tbe books that tbe bolder of a negotiable promissory note, transferred after maturity, takes it as dishonored and subject to all tbe equities between tbe original parties, whether be has notice of tbe same or not, it must be understood that the equities meant are such only as attach to tbe particular note and such as between tbe parties to it, would control, qualify or extinguish any rights arising thereon. Equities between tbe parties to tbe note arising from other and independent transactions between them, are not available against tbe note in tbe bands of tbe assignee.…
2Cases cited1 opinion
- Campbell v. RuschSupreme Court of Iowa · 1859
3Cited by6 opinions
- DeLaval Separator Co. v. SharplessSupreme Court of Iowa · 1907
- Bone v. TharpSupreme Court of Iowa · 1884
- Ryan v. ChewSupreme Court of Iowa · 1862
- Whittaker v. KuhnSupreme Court of Iowa · 1879
- Stannus v. StannusSupreme Court of Iowa · 1870
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