E. D. Fisher Lumber & Coal Co. v. Robbins

Citations

• 104 Kan. 619
• 180 P. 264
• 1919 Kan. LEXIS 320

Syllabus

<p>SYLLABUS -BY THE' COURT.</p> <p>1. Promissory Note — Indorsement—Payee’s Name Written under Name of Maker — Good Commercial Indorsement. A promissory note may be negotiated by an indorsement written upon any part of the instrument, and where a payee in transferring a note writes his name on its face and under that of the maker, it will be implied that he signed it as an indorser, and not as a maker.</p> <p>2. Same — Holder in Due Course. The transferee of a negotiable instrument so indorsed before maturity and without notice of infirmities or defenses, is a holder in due course.</p> <p>3. Same — Indorsement—Holder in Due Course. Whenever a negotiable note passes into the hands of a holder in due course, its status as commercial paper is established, and such holder may transfer it to others, even after maturity, with immunity from the equities that may exist between the maker and payee.</p> <p>4. Same — Commercial Indorsement. An assignment by a holder, written on the back of such a note, without limitation, to which a guaranty of payment is added, is a commercial indorsement.</p>