Birket v. Elward

Citations

• 68 Kan. 295
• 74 P. 1100
• 1904 Kan. LEXIS 103

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Promissory Note — Collateral Security — Holder for Value. An indorsee of a negotiable note taken as collateral security for a preexisting debt, there being no extension of time of payment or other new consideration except such as may be deemed to arise from the acceptance of the paper, is a holder for value and in due course of business, and in the absence of any circumstances charging him with notice is protected against a claim of payment made to the original payee.</p>