Central School Supply House v. Donovan
Appellate Court of Illinois
Assumpsit, on promissory notes. Appeal from the Superior Court of Cook County; the Hon. Nathaniel C. Sears, Judge,- presiding.
1Opinion of the CourtJustice Waterman
The question presented in this case is as to the right of the transferee of a negotiable promissory note, who, with notice of a defense, purchased the instrument from a bona fide holder, who acquired it before it became due.
Promissory notes indorsed in blank pass by delivery.
Possession of such notes is prima facie evidence of title thereto. Morris v. Preston, 93 Ill. 215; Palmer v. Nassau Bank, 78 Ill. 380.
The character of a promissory note as negotiable paper is established when it is acquired by a bona fide holder before maturity, and notice of original defects does not affect subsequent…
2Cases cited8 opinions
- Commissioners of Marion County v. ClarkSupreme Court of the United States · 1877
- Kost v. BenderMichigan Supreme Court · 1872
- Woodworth v. HuntoonIllinois Supreme Court · 1865
- Morris v. PrestonIllinois Supreme Court · 1879
- Palmer v. Nassau BankIllinois Supreme Court · 1875
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