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Articles 61 - 80 of 80
Full-Text Articles in Law
Bills And Notes-Right To Indorsement After Transfer
Bills And Notes-Right To Indorsement After Transfer
Michigan Law Review
The payee assigned a note and mortgage to the plaintiff by separate paper. The plaintiff sued the payee under sec. 49, N. I. L. for indorsement and also for the balance due after foreclosing the mortgage. Held, the plaintiff was entitled to an unqualified indorsement and recovery in the absence of a contrary agreement. Parr v. Ft. Pierce Bank & Trust Co. (Fla. 1930) 130. So. 445.
Bills And Notes-Payee As Holder In Due Course
Bills And Notes-Payee As Holder In Due Course
Michigan Law Review
In an action by the payee against the insane accommodation maker of a promissory note, the court held that the payee is presumed to be a holder in due course. F. S. Royster Guano Co. v. Sherman (N. J. 1930) 151 Atl. 382.
Bills And Notes-Payee As Holder In Due Course
Bills And Notes-Payee As Holder In Due Course
Michigan Law Review
P executed a note and securing mortgage leaving a blank for the name of the payee and mortgagee. A, P's agent, in excess of his authority, filled in the blanks with D's name and with D's knowledge. D in good faith paid full value. Held, under sec. 6055,. Mich. Comp. Laws (1915) D has no claim against P, for he is not a holder in due course. Bronson v. Stetson, 252 Mich. 6, 232 N.W. 741.
Bills And Notes-Trade Acceptance-Reference To The Purchase Agreement
Bills And Notes-Trade Acceptance-Reference To The Purchase Agreement
Michigan Law Review
The defendant drew a trade acceptance in favor of the Turner Manufacturing Co. containing the following provision: "The obligation of the acceptor hereof arises out of the purchase of goods from the drawer, maturity being in conformity with the original terms of the purchase." The drawer indorsed the instrument to the plaintiff bank, a purchaser in due course. Held, that the trade acceptance was rendered non-negotiable by the clause "maturity being in conformity with the original terms of the purchase." First Nat. Bank, Statesville, N. C. v. Power-Equipment Co. (Iowa, 1930) 233 N.W. 103.
Bills And Notes-Checks-Effect Of Alteration Before Acceptance Upon The Acceptor
Bills And Notes-Checks-Effect Of Alteration Before Acceptance Upon The Acceptor
Michigan Law Review
The plaintiff, drawee, sued to recover money paid to the defendant on a certified check in which the name of the payee had been cleverly altered, and which had been indorsed and negotiated by the substituted payee. The plaintiff had certified the check prior to the negotiation to the defendant, an innocent purchaser for value. Held, that under sec. 62 of the N. I. L. the acceptor "engages that he will pay it [the instrument] according to the tenor of his acceptance; and admits, * * * 2. The existence of the payee and his then capacity to indorse"; …
Bills And Notes -- Principal And Agent--Payment To Agent Of Drawer Upon Indorsement Forged By The Agent
Michigan Law Review
A was an agent of P for the purpose of securing applications for loans and disbursing the money to the borrowers. The custom was for P, after approving the application, to send to A a check drawn on D bank, payable to the joint order of A and the borrower. It was also the custom for A, in following out the course of dealing outlined by P, to secure the borrower's indorsement, add his own, deposit the check to an agency account in X bank, and then pay out the money to the borrower by personal checks on his agency …
Recovery On Negotiable Instruments After Blanks Improperly Filled
Recovery On Negotiable Instruments After Blanks Improperly Filled
Michigan Law Review
At the request of a debtor a person signs a note, the amount being left blank, but on the understanding that it should be filled in with the amount of a certain account; by the principal debtor the incomplete note is delivered to the agent of the payee with instructions to fill in the amount of the account as agreed with the surety; the payee's agent, however, fills in a much larger amount. What if anything, should the payee recover from the surety in a suit on the note? A late case in Indiana allows recovery in the amount which …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Amending Our Negotiable Instruments Law, E. C. Dickinson
Amending Our Negotiable Instruments Law, E. C. Dickinson
West Virginia Law Review
No abstract provided.
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Issuance Of Negotiable Instruments As Giving Of Value
Issuance Of Negotiable Instruments As Giving Of Value
Michigan Law Review
Authorities are unanimous that the issuance of negotiable instruments as consideration in the purchase of notes constitutes sufficient value to enable the purchaser to sue as a holder in due course, when the instruments issued have found their way into the hands of a due course holder, or have been paid, before the purchaser acquires knowledge of any defenses. But when, at the time the purchaser is notified of defenses, his notes are still in the possession of the payee, the decisions are not in accord as to his standing. The Wyoming court, in a recent opinion, held a bank …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
The Doctrine Of Price V. Neal, Ralph W. Aigler
The Doctrine Of Price V. Neal, Ralph W. Aigler
Michigan Law Review
In 1715 the case of Jenys v. Fawler, et al. came before Lord Raymond at the Guildhall. It was an action by the indorsee of a bill of exchange against the acceptor who offered to prove by witnesses who were acquainted with the drawer's signature and who believed that the signature of the drawer appearing on the bill in suit was not genuine, that the bill really was a forgery. The Chief Justice refused to admit the testimony "from the danger to negotiable notes, and because a man might with design write contrary to his usual method." This indicates that …
Recent Important Decisions
Michigan Law Review
A collection of recent important court decisions.
Negotiable Instruments-Carelessness In Making Checks
Negotiable Instruments-Carelessness In Making Checks
Michigan Law Review
In a recent case the supreme court of Texas held that the drawer of a check could recover from the drawee bank money paid on a check which had been fraudulently altered in amount by the payee even though the drawer was negligent in drawing the check in such a manner as to facilitate the fraudulent alteration. Glasscock v. First National Bank of San Angelo (Nov. 26, 1924) 266 S. W. 393. The court takes the view, though the decision is not based on it, that sec. 124 of the Negotiable Instruments Law which provides that: "Where a negotiable instrument …
On Uniformity In Judical Decisions Of Cases Arising Under The Uniform Negotiable Instruments Act, Amasa M. Eaton
On Uniformity In Judical Decisions Of Cases Arising Under The Uniform Negotiable Instruments Act, Amasa M. Eaton
Michigan Law Review
When the American Bar Association was formed in 1878, the first object stated in the call was "to assimilate the laws of the different states," and the first article of the Constitution stated that one of the principal objects of the Association was "to advance the science of jurisprudence, to promote the administration of justice and uniformity of legislation throughout the Union."