Barker v. Sartori

Citations

• 66 Wash. 260
• 119 P. 611
• 1911 Wash. LEXIS 1055

Syllabus

<p>Bills and Notes — Bona Fide Holders — Defenses—Want of Consideration. Negotiable promissory notes executed by- the maker cannot pe held void for want or illegality of. consideration, when in the hands of holders for value, before maturity, without notice of any defect.</p> <p>' Bills and Notes — Negotiability—Statutes—Construction. A note is negotiable, although due' in installments without showing upon its face the amount due at maturity, under Rem. & Bal. Code, § 3392, defining a negotiable instrument to be one that contains an unconditional promise to pay a sum certain in money, and § 3393, providing that the sum is certain although it is to be paid with interest, by stated installments, with provision that all shall become, due on any default, and for costs of collection or attorney’s fees if not paid on maturity.</p> <p>Bills and Notes — Negotiability—Provisions of Mortgage. The provisions of a mortgage securing a- negotiable promissory note are not imported into the note so as to affect its negotiability.</p> <p>Bills and Notes- — Transfer—Bona Fide Purchasers — Notice of Defect. The purchasers of notes secured by mortgages are not put upon inquiry as to want of consideration from the fact that the property was not worth the face of the note, or that a note was indorsed by a trustee of the payee,- where it appears that they either looked at the’ property and were satisfied'that it was good, or knew the payee and the trustee who had authority to make the indorsement, and relied on the indorsement, their only duty being to inquire into the regularity of the indorsement.</p>