Farnsworth v. Burdick

Citations

• 94 Kan. 749
• 147 P. 863
• 1915 Kan. LEXIS 157

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Promissory Note — Form of Indorsement — Indorsee Became Holder in Due Course. Under the negotiable instruments law (Gen. Stat. 1909, §§ 5247-5446), a writing in these words, “I Hear By assine this note over to E. H. Farnsworth this the ISTov. 1st, 1910,” signed by the payee, on the back of a negotiable promissory note, complete and regular on its face, accompanied by delivery to the person named in the writing, is an indorsement of the note; and one who takes the note in good faith, for value, before it is due, without notice that it had been previously dishonored, and who, at the time he takes it, has no notice of any infirmity in the note or defect in the title of the person negotiating it, becomes the holder thereof in due course, and holds it free from any defect of title of the payee, and free from defenses available to the maker against the payee, and may enforce payment of the note for the full amount thereof, against the maker.</p>