Standard Fire Ins. Co. v. Fuller

EDGERTON, Circuit Judge.

On August 31, 1945 the Washington Housing Corporation executed a so-called promissory note, hereafter called the note, naming one Bailey as payee. But above the Corporation’s signature were the words “without recourse to maker.” Since these words contradicted and canceled what would otherwise have been “an unconditional promise or order to pay a certain sum in money” the note did not comply with the requirement of D.C.Code (1940) § 28-102 that an instrument, in order to be negotiable, must contain such a promise. The note created no obligation, negotiable or…