Land Finance Corp. v. St. Johnsbury Wiring Co.

This is an action of contract founded upon a trade acceptance, brought by the indorsee thereof. The proof, in support of the answer, tended to show that the instrument in suit was obtained of the defendant by the Autocrat Sales Corporation, the payee named therein, by means of fraud and misrepresentations, and was subsequently negotiated to the plaintiff in breach of faith and in fraud of the defendant.

The plaintiff, to meet the case made by the defendant, offered proof to establish that he was a holder in due course,, and for this purpose it'-devolved upon the plaintiff to disclose the facts…