Critcher v. . Ballard
Supreme Court of North Carolina
Civil actioN, tried before Bond, J., and a jury, at June Special Term, 1920, of MaktiN. Tbe action is by Gilliam & Dunstan, claiming to be holders for value in due course of a promissory note for $300 executed by defendant, P. A. Ballard, to one O. Ames.
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Civil actioN, tried before Bond, J., and a jury, at June Special Term, 1920, of MaktiN. Tbe action is by Gilliam & Dunstan, claiming to be holders for value in due course of a promissory note for $300 executed by defendant, P. A. Ballard, to one O. Ames. In the verified complaint of plaintiff, the note and the facts pertinent to the acquisition of same, by Gilliam & Dunstan, are set forth as follows : $300.00. ' WilliamstoN, November 17, 1915. On or before the 1st day of November, 1916, I promise to pay to the order of O. Ames the sum of three hundred dollars, with interest from date till…
1Opinion of the CourtHoke, J.
It is recognized in the better considered decisions on*the subject that the mere statement of an executory contract on the part of the payee, growing out of the transaction in which a promissory note is given, will not, of itself, and without more, destroy or impair the negotiability of the note when it otherwise complies with the requirements’of that class of paper.
The question was presented to this Court in Bank v. Hatcher, 151 N. C., 359, where defendant, the promissor, sought to set up a claim for damages for breach of contract in the sale of goods by sample, and it was shown that the…
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