Sanderson v. Clark
Idaho Supreme Court
APPEAL from the District Court of the Fifth Judicial District, for Power County. Hon. Robert M. Terrell, Judge. Suit to foreclose mortgage. Judgment for defendants. One who places a note in the hands of another, vesting in him apparent ownership and right to sell the same, is estopped from defending against the payment, where the note is in the hands of an innocent purchaser. (8 C. J. 721; Herbert v. Huie, 1 Ala. 18, 34 Am.
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APPEAL from the District Court of the Fifth Judicial District, for Power County. Hon. Robert M. Terrell, Judge. Suit to foreclose mortgage. Judgment for defendants. One who places a note in the hands of another, vesting in him apparent ownership and right to sell the same, is estopped from defending against the payment, where the note is in the hands of an innocent purchaser. (8 C. J. 721; Herbert v. Huie, 1 Ala. 18, 34 Am. Dec. 755.) “Where one of two innocent persons must bear a loss, occasioned by the fraud or wrong of a third person, the one who put such third person in possession of the…
1Opinion of the CourtMorgan, C. J.
The evidence shows that G. C. Leeper and C. L. Powell perpetrated a fraud on respondents whereby they were procured to make, execute and deliver to Leper, without consideration, the promissory note and mortgage sued on; that before maturity Leeper sold the note and mortgage, for a valuable consideration, to appellant, who took them without knowledge of the fraud; that the note was not indorsed, ,but the transfer was made by delivery and by means of an instrument of assignment. Following is a copy df the note:
“$2500.00. Pocatello, Idaho, July 19th, 1915.
“Fifteen months after date, without…
2Cases cited4 opinions
- Merchants' & Mechanics' Savings Bank v. FrazeIndiana Court of Appeals · 1894
- Rossville State Bank v. HesletSupreme Court of Kansas · 1911
- Oyler v. McMurrayIndiana Court of Appeals · 1893
- Union Stock Yards National Bank v. BolanIdaho Supreme Court · 1908
3Cited by5 opinions
- Kite v. EckleyIdaho Supreme Court · 1929
- McCornick and Co. v. Tolmie Bros.Idaho Supreme Court · 1926
- Moyer v. HydeIdaho Supreme Court · 1922
- Townsend v. AdamsSupreme Court of Iowa · 1929
- Bailey v. Triplett Bros.Court of Appeals of Texas · 1926