Bridges v. Phillips
Court of Appeals of Georgia
Complaiut; from city court of Miller county — Judge Bush. R. L. Z. Bridges sued D. Phillips, as indorser, on a note'made by George Owens, payable to Phillips, and indorsed- as follows: “ For value received I transfer and assign to Bainbridge • State Bank the within note and mortgage, with full recourse on me. Dec. 13th, 1905. [Signed] D. Phillips.”
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Complaiut; from city court of Miller county — Judge Bush. R. L. Z. Bridges sued D. Phillips, as indorser, on a note'made by George Owens, payable to Phillips, and indorsed- as follows: “ For value received I transfer and assign to Bainbridge • State Bank the within note and mortgage, with full recourse on me. Dec. 13th, 1905. [Signed] D. Phillips.” “For value received we transfer the within note and mortgage to R. L. Z. Bridges, without recourse on us. ' March 5th, 1906. [Signed] Bainbridge State Bank, by E. J. Perry, Cashier.” The note was dated December 13, 1905, and was payable one month…
1Opinion of the Court
' Russell, J.
1. The court erred in granting a nonsuit, for it was at least issuable whether the plaintiff paid the note for the principal debtor, or bought it and held it as a bona fide purchaser. The phrase “take up the note ” does not any more strongly imply that the debt evidenced by the note is to be finally discharged than that the person “taking up” the note will assume the place of the original payee or holder, with the privilege in that event of being subrogated to all pre-existent rights of the former holder. .....'
2, The defendant was not entitled to notice of non-payment or of…
2Cited by1 opinion
- Hall v. StoneCourt of Appeals for the Fifth Circuit · 1933