Milwaukee Acceptance Corp. v. Dore

The controlling issue is whether Milwaukee Acceptance is a holder in due course of the note executed by Dore so as to be free from the defense Dore had against the payee, Auto Acceptance.

The defendant does not claim to the contrary and apparently concedes that the note was negotiable; that it was not past due when assigned; that it was regular in form and no defenses appeared upon its face; that Milwaukee Acceptance had whatever rights that A.I.C. had in the note; and that A.I.C. did not have actual knowledge of the so-called receipt for payment in full.

The appellant, Milwaukee Acceptance,…