First National Bank v. Busch
Supreme Court of Minnesota
Action in the district court for Dakota county to recover $635 on a promissory note. The case was tried before Crosby, J., who directed a verdict in favor of plaintiff for $768.35. From an order denying their motion for a new trial, the defendants, except William J. Dunn and Charles D. Niemeyer, appealed.
1Opinion of the CourtElliott, J.
In an action on a promissory note the court directed a verdict in favor of the plaintiff, and the defendants appealed from an order denying a motion for a new trial.
It is the settled law of this state that an indorsee of negotiable paper before maturity as collateral security for an antecedent indebtedness, in good faith and without notice of defenses which might have been available between the original parties, holds the same free from such defenses. We have adopted the rule which prevails in the federal courts, and very generally elsewhere, under which it is not necessary that a new…
2Cases cited11 opinions
- Bank of Montreal v. RichterSupreme Court of Minnesota · 1893
- Rosemond v. GrahamSupreme Court of Minnesota · 1893
- St. Paul Gaslight Co. v. Village of SandstoneSupreme Court of Minnesota · 1898
- Turle v. SargentSupreme Court of Minnesota · 1895
- Drew v. WheelihanSupreme Court of Minnesota · 1898
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3Cited by10 opinions
- Griswold v. MorrisonCalifornia Court of Appeal · 1921
- International Finance Co. v. Northwestern Drug Co.District Court, D. Minnesota · 1922
- First National Bank v. MalmquistSupreme Court of Minnesota · 1924
- Bank of Montreal v. BeecherSupreme Court of Minnesota · 1916
- Gaertner v. Western Elevator Co.Supreme Court of Minnesota · 1908
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