Caton v. Andalusia Nat. Bank

Canton executed his negotiable promissory note to Clark Mercantile Company, which before maturity was indorsed and transferred by the Clark Mercantile Company to plaintiff. It was, however, not necessary to the assignment that the maker be given notice, and payment by the maker to the payee would not affect the rights of the transferee. Federal Land Bank v. Corinth Bank Trust Co., 214 Ala. 146, 107 So. 88. Of course, if the payee be shown to be the agent of the transferee, authorized to accept payment of the paper, and payment be shown to have been made to the payee as such authorized agent,…