Simpson v. Perfett
North Dakota Supreme Court
Appeal from the District Court of Adams County, Hon. W. O. Grawford, Judge. Action to foreclose a real estate mortgage. Judgment for defendant. Plaintiff appeals. P. D. Norton, O. M. Parsons, and Langer '& Nuchols, for appellant. It is the law that the owner of a negotiable promissory note who-obtains it before maturity for a valuable consideration, without knowledge of any defect of title and in good faith, holds it by a title valid against the world.
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Appeal from the District Court of Adams County, Hon. W. O. Grawford, Judge. Action to foreclose a real estate mortgage. Judgment for defendant. Plaintiff appeals. P. D. Norton, O. M. Parsons, and Langer '& Nuchols, for appellant. It is the law that the owner of a negotiable promissory note who-obtains it before maturity for a valuable consideration, without knowledge of any defect of title and in good faith, holds it by a title valid against the world. MePherrin v. Tittle, 36 Okla. 510, 44 L.R.A. (N.S.) 395, 129 Pac. 721; Comp. Laws 1913, § 6940. Defendant must allege and prove as a…
1Opinion of the Court
Bruce, Ch. J.
This is an action to foreclose a real estate mortgage .given to secure negotiable promissory notes in payment of a Hart-Parr engine and some plows. The plaintiff claims to be an innocent purchaser and indorsee. The answer denies that the plaintiff paid any *529"consideration for the notes in question, and also alleges a lack or failure of consideration in that the machine was never 'put in good working order, and that as the delivery and acceptance were conditioned upon this being done, and the machine had never been delivered or accepted, no obligation was incurred by the defendant.
W…
2Cases cited9 opinions
- The Elgee Cotton CasesSupreme Court of the United States · 1875
- Magee v. BillingsleySupreme Court of Alabama · 1842
- McClung v. KelleySupreme Court of Iowa · 1866
- Hamilton & Rourke v. GordonOregon Supreme Court · 1892
- Kitson Machine Co. v. HoldenSupreme Court of Vermont · 1902
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