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Brooks v. Sullivan.

Brooks v. . Sullivan

Brooks v. Sullivan., 39 S.E. 822 (N.C. 1901)
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Court
Supreme Court of North Carolina · State Highest Courts
Decided
November 5, 1901
Judges
C-LaRK
Citations
39 S.E. 822129 N.C. 1901901 N.C. LEXIS 46
Cited by 11
Headnotes
.NEGOTIABLE INSTRUMENTS — Bills and Notes — Transfer Before Maturity — Bona fide Holder — Acts 1899, Oh. 788, Secs. 25-27. An assignee of a negotiable instrument to secure a debt due him was not a dona fide purchaser, without notice, where he paid no money in consideration of such assignment, until made so by Acts 1899, Ch. 733, Secs. 25-27.
Summary
AotxoN by A. F. Brooks against J. II. Sullivan and J. B. Gerringer, beard by Judge E. W. Timberlatfe and a jury, at January (Special) Term, 1901, of the Superior Court of Guilford County. From a judgment for the defendants, the plaintiff appealed.

Syllabus and headnotes are prepared by the reporter or publisher, not the court, and are not part of the opinion.

Opinion of the Court — C-LaRK

C-laRK, J.

The only question is whether, when a negotiable note is transferred before maturity as collateral security for a pre-existing debt, the assignee is such holder for value that he takes free from equities of which he had no notice. The “Negotiable Instruments” statute, Acts 1899, Chap. 183, secs. 25-21, settles that such is the case now to the extent of the debt secured, but that is a change of the law, which was previously otherwise.

Holderby v. Blum, 22 N. C., 51 ;

Harris v. Horner, 21 N. C., 455 , 30 Am. Dec., 182 ;

Potts v. Blackwell, 56 N. C., 449 . This case is governed by the law as it stood prior to the act of 1899.

Affirmed.

How later courts describe this case

No later court has written an explanatory parenthetical about this case yet.

Cited by 11 cases

View all citing references →
1904: 11908: 11911: 21912: 11914: 11915: 11917: 11928: 11931: 11935: 119042026peak 1911 · 2

Relies on it most ⓘ

  1. Melton v. Pensacola Bank & Trust Co.190 F. 126 (6th Cir. 1911)
  2. Felt v. Bush126 P. 688 (Utah 1912)
  3. Standard Inv. Co. v. Town of Snow Hill, N. C.78 F.2d 33 (4th Cir. 1935)
  4. New Bern Oil & Fertilizer Co. v. National Bank28 F.2d 554 (4th Cir. 1928)
  5. Smathers v. Toxaway Hotel Co.84 S.E. 47 (N.C. 1915)
  6. Barnes v. Crawford160 S.E. 464 (N.C. 1931)

Most recent

  1. Standard Inv. Co. v. Town of Snow Hill, N. C.78 F.2d 33 (4th Cir. 1935)
  2. Barnes v. Crawford160 S.E. 464 (N.C. 1931)
  3. New Bern Oil & Fertilizer Co. v. National Bank28 F.2d 554 (4th Cir. 1928)
  4. American National Bank v. Dew94 S.E. 708 (N.C. 1917)
  5. Smathers v. Toxaway Hotel Co.84 S.E. 47 (N.C. 1915)
  6. Sykes v. Everett83 S.E. 585 (N.C. 1914)

Citing references are not a citator: they show that a later opinion cites this case, not whether it followed, distinguished, or overruled it. Check negative history before relying on this case.

Authorities cited 3

DepthCaseCited by
Potts v. Blackwell, 56 N.C. 449 (1857) 14
Holderby v. Blum, 22 N.C. 51 (1838) 2
Harris v. Horner, 21 N.C. 455 (1836) 2

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