Branch v. Commissioners of Sinking Fund

Citations

• 80 Va. 427
• 1885 Va. LEXIS 80

Syllabus

<p>1. Negotiable Instruments— Theft — Maker's liability — Note payable to bearer has been delivered, stolen from the owner, and come to bona fide holder for value. Latter may recover on it againsl the maker. Secus, where the note has not been delivered, or if delivered, has been returned to maker, and stolen from him.</p> <p>2, Idem — Coupon bond — Theft of — Maker's liability — Case at bar. — Two coupon bonds issued by the state of Virginia, payable to bearer, are redeemed by the state, and other bonds issued in their stead. Later the bonds were stolen from the state treasury, came into the hands of B., a bona fide holder for value without notice of the theft, and by B. were presented to the commissioners of the sinking fund, to be funded into other bonds of the state. The commissioners refused, on the ground that the bonds had been stolen from the state treasury. B. ap^-plied for a mandamus.</p> <p>Held :</p> <p>Mandamus denied.</p>