Anderson v. Warne

Citations

• 71 Ill. 20

Syllabus

<p>1. Fraud and circumvention—payee of note must participate. Although the execution of a promissory note may be procured as to a surety by the fraud of the principal maker, if the payee is an innocent part)-, and has no knowledge of the facts, and is not privy to the fraud, this will afford no defense against the note.</p> <p>2. Negligence—where one of two innocent parties must suffer loss, it must he home hy the one guilty of negligence. The rule of law is, where one of two persons must suffer loss, he who by his negligent conduct made it possible for the loss to occur, must bear it. It is the duty of a party signing a promissory note, to use reasonable and ordinary precaution to avoid imposition, and if he does not, an innocent party should not suffer loss for his want of care.</p>