Rogers v. Morton
New York Supreme Court
Error from the superior court of the city of New-York. Morton and others, assignees of H. B. Gwathmey. an insolvent debtor, declared upon a note bearing date 2d January, 1828, for $2000, given by the defendants, payable to Gwath-mey, with interest from the 26th of the preceding October. On the trial of the cause, the making of the note and the appointment of the plaintiffs as assignees were admitted.
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Error from the superior court of the city of New-York. Morton and others, assignees of H. B. Gwathmey. an insolvent debtor, declared upon a note bearing date 2d January, 1828, for $2000, given by the defendants, payable to Gwath-mey, with interest from the 26th of the preceding October. On the trial of the cause, the making of the note and the appointment of the plaintiffs as assignees were admitted. The defendants proved that the note in question was given on a settlement with one John Grimshaw of an account which he presented against them, exhibiting a balance in his favor of $5337 61 cts,…
1Opinion of the Court
By the Court,
Nelson, J.
I am of opinion that the facts disclosed by the bill of exceptions were sufficient to throw the burden upon the plaintiffs, of showing that Gwathmey was a bona fide holder for value. A promissory note imports a valuable consideration upon its face, and possession is presumptive evidence of property rightfully acquired ; but when the maker shows that it was obtained - from him and put into circulation by force or fraud, all the above intendments of law are rebutted, and proof becomes necessary. The cases are full on this point. Chitty on Bills. 32, 68, 400, 1. 13 East,…
2Cases cited1 opinion
- Vallett v. ParkerNew York Supreme Court · 1831
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