Cudahy Packing Co. v. State Nat. Bank

Citations

• 134 F. 538
• 67 C.C.A. 662
• 1904 U.S. App. LEXIS 4531

Syllabus

<p>1. Mortgage — Unsigned Memorandum on Back.</p> <p>An unsigned contract printed on the back of a mortgage, and not referred to therein, cannot in any way qualify the terms of the mortgage.</p> <p>2. Negotiable Instruments — Attorney’s Fees.</p> <p>A provision for the payment of attorney’s fees in case a note is not paid at maturity does not destroy the negotiability of a note otherwise negotiable.</p> <p>[Ed. Note. — For eases in point, see vol. 7, Cent. Dig. Bills and Notes,. § 403.]</p> <p>3. Same — Certainty Required in Negotiable Paper.</p> <p>The certainty required in commercial paper is commercial certainty, not mathematical. The courts ought not to hold any provision fatal to the negotiability of such paper which by the general usage of the business world does not have that effect.</p> <p>4. Mortgage — Negotiable Instruments.</p> <p>A mortgage securing a negotiable note so far partakes of its character as to pass free from equities between the original parties to a bona fide indorsee of the note.</p> <p>5. Same — Securing Nonnegotiable. Debt.</p> <p>Quaere: Whether the mortgagor of a mortgage securing a nonnegotiable debt can, after an assignment of the mortgage, by any dealings with the mortgagee short of actual payment, though had in ignorance of' the assignment, raise “an equity” as against the assignee.</p> <p>(Syllabus by the Court.)</p>