First National Bank of New Haven v. Moir

Edgcomb, J.:

I have no hesitancy in holding that the note which forms the basis of this action was executed by the defendant Moir and delivered by him to the defendant Hackett without consideration, and for the express purpose of enabling the latter to discount the instrument and turn the proceeds over to Mr. Moir. This Hackett failed to do. He wrongfully diverted the note from the purpose-for which it was given and delivered to him; he turned it over to the defendant Kneen in breach of faith for purposes of his ownz Hackett was not a holder in due course.

Therefore, the plaintiff cannot rely…