Commercial Bank v. Burgwyn
Supreme Court of North Carolina
This is a civil ACTION which was tried before Womack, J, at October Term, 1890, of Vance Superior Court. The plaintiff declared upon a note executed by the defendant to Ruffin & Hairston, and on Ballou, for $1,416.67, dated 14th June, 1888, due one year from date, and alleged that it purchased for value before maturity. The defendant answered, setting up fraud and misrepresentation by the original payees at the time of, and vitiating the instrument sued on.
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This is a civil ACTION which was tried before Womack, J, at October Term, 1890, of Vance Superior Court. The plaintiff declared upon a note executed by the defendant to Ruffin & Hairston, and on Ballou, for $1,416.67, dated 14th June, 1888, due one year from date, and alleged that it purchased for value before maturity. The defendant answered, setting up fraud and misrepresentation by the original payees at the time of, and vitiating the instrument sued on. Plaintiff offered in evidence the note sued on, and rested. The defendant then introduced evidence tending to establish his defence. The…
1Opinion of the Court
Shepi-ieRD, J.:
The note sued upon was negotiable, “ and there is a prima facie presumption of law in favor of every holder of a negotiable paper to the extent that he is the owner of it, and that he took it for value and before dishonor.” Parsons' Notes and Bills, 255; Tredwell v. Blount, 86 N. C, 33.
Where, however, fraud or illegality in the inception of the instrument is pleaded, and the defendant introduces evidence tending to establish such plea, then the prima facie case made by the endorsee, who simply offers the note and proves its execution, is so far rebutted as to shift the burden…
2Cases cited2 opinions
- Pugh v. . GrantSupreme Court of North Carolina · 1882
- Applegarth v. TillerySupreme Court of North Carolina · 1890
3Cited by11 opinions
- Commercial Bank v. BurgwynSupreme Court of North Carolina · 1892
- Manufacturing Co. v. . SummersSupreme Court of North Carolina · 1906
- Willard Manufacturing Co. v. TierneySupreme Court of North Carolina · 1903
- National Bank of Commerce v. ChatfieldTennessee Supreme Court · 1907
- Manufacturing Co. v. . TierneySupreme Court of North Carolina · 1903
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