BILLS AND NOTES-PAYEE AS HOLDER IN DUE COURSE

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

P executed a note and securing mortgage leaving a blank for the name of the payee and mortgagee. A, P\u27s agent, in excess of his authority, filled in the blanks with D\u27s name and with D\u27s 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

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BILLS AND NOTES-PAYEE AS HOLDER IN DUE COURSE

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

P executed a note and securing mortgage leaving a blank for the name of the payee and mortgagee. A, P\u27s agent, in excess of his authority, filled in the blanks with D\u27s name and with D\u27s 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