Rissman v. Krenn & Dato Construction Co.

The Chancellor:

In this case the bill seeks a decree against Krenn & Dato Construction Company for the payment of a negotiable promissory note in the face amount of $56,400.00 made by Krenn & Dato Construction Company to the order of Edwin D. Krenn and bearing date March 7, 1932.

The complainant claims that he and the defendant Louis W. Adams own the note as co-trustees. Though the note was made negotiable in character, the complainant concedes on his brief that he and his co-trustee are not holders in due course within the meaning of the negotiable instruments act. He claims that their status…