Brockway v. United States Finance Company

The bill of complainant and the evidence showed that the appellee-respondent United States Finance Co. was assigned a negotiable promissory note and thereby became the owner and holder of it. Every holder of such a note is deemed prima facie to be a holder in due course; i. e., he is deemed to have taken it before maturity in good faith and for value, having at the time no notice of any infirmity in the instrument or defect in the title of the person negotiating it. Sections 54 and 61 of Title 39, Code of Alabama, 1940. Bruce v. Citizens’ National Bank, 185 Ala. 221, 64 So. 82; Tennessee…