Holland Banking Co. v. Haynes
Supreme Court of Arkansas
App'eal from Franklin Circuit Court, Charleston District; James Cochran, Judge; STATEMENT BY THE COURT. This suit was instituted by the appellant to recover on three certain promissory notes aggregating $2,800, the amount thereof less credits of $200.00. The notes are dated June 10, 1910, and due and payable in equal amounts on the 1st day of September, 1912, 1913and 1914. They weregiven for the purchase money of a Percheron stallion, sold and delivered by the Holland Stock…
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App'eal from Franklin Circuit Court, Charleston District; James Cochran, Judge; STATEMENT BY THE COURT. This suit was instituted by the appellant to recover on three certain promissory notes aggregating $2,800, the amount thereof less credits of $200.00. The notes are dated June 10, 1910, and due and payable in equal amounts on the 1st day of September, 1912, 1913and 1914. They weregiven for the purchase money of a Percheron stallion, sold and delivered by the Holland Stock Farm of Springfield, Mo., to Wallace Haynes, et ai. The appellant banking company purchased the notes on September 17,…
1Opinion of the Court
Kirby, J.,
(after stating the facts.) (1) The court erred in giving said instructions. When the holder of a negotiable instrument shows that he purchased it before maturity in the usual course of business for a valuable consideration, a prima facie case is made and the burden of proof shifts to the defendant who alleges it to prove that the purchaser had notice or knowledge of such facts as required him to take notice of the defense existing in favor of the makers. White v. Moffett, — Ark. —, 158 S. W. 505; Keathley v. Holland Banking Co., 166 S.W. 953, — Ark. —.(2) The purchasers of the horse…
2Cases cited1 opinion
- White v. MoffettSupreme Court of Arkansas · 1913
3Cited by5 opinions
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