Pierce v. . Carlton
Supreme Court of North Carolina
Appeal by plaintiff from Daniels, J., at November Term, 1921, of DupliN. Civil action to recover tbe balance due on three promissory notes, executed by defendants, payable to Crawford & Ceas, of date 11 February, 1913, payable respectively, 1 June, 1914; 1 June, 1915; 1 June, 1916. There was evidence on part of plaintiff tending to show that these notes, each having entered thereon a credit of $100, and leaving aggregate amount due of $2,100. That on the afternoon of 11…
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Appeal by plaintiff from Daniels, J., at November Term, 1921, of DupliN. Civil action to recover tbe balance due on three promissory notes, executed by defendants, payable to Crawford & Ceas, of date 11 February, 1913, payable respectively, 1 June, 1914; 1 June, 1915; 1 June, 1916. There was evidence on part of plaintiff tending to show that these notes, each having entered thereon a credit of $100, and leaving aggregate amount due of $2,100. That on the afternoon of 11 February, the notes having been endorsed in blank by the payees, plaintiff bought said notes for $1,800, and without notice…
1Opinion of the CourtIIoice, J.
Our statute on negotiable instruments, 0. S., ch. 58, in sec. 3039, makes provision as follows: “When subject to original defenses. In the hands of any holder other than a holder in due course a negotiable instrument is subject to the same defenses as if it were nonnegotiable. But a holder who derives his title through a holder in due course, and who is not himself a party to any fraud or illegality affecting the instrument, has all the rights of such former holder in respect of all parties prior to the latter.”
This principle that one who acquires title from a holder in due course may recover…
2Cases cited9 opinions
- Kost v. BenderMichigan Supreme Court · 1872
- Reynolds v. Adams Express Co.Supreme Court of North Carolina · 1916
- Andrews v. RobertsonWisconsin Supreme Court · 1901
- Kannan v. . AssadSupreme Court of North Carolina · 1921
- Aragon Coffee Co. v. RogersSupreme Court of Virginia · 1906
4 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- State v. . WhitleySupreme Court of North Carolina · 1935
- Jernigan v. . JerniganSupreme Court of North Carolina · 1946
- McD. Ray v. LivingstonSupreme Court of North Carolina · 1933