First Nat. Bank of Council Bluffs v. Moore

Citations

• 137 F. 505
• 70 C.C.A. 89
• 1905 U.S. App. LEXIS 4571

Syllabus

<p>1. Bills and Notes—Action by Assignee—Validity of Assignment.</p> <p>Where, in an action by an assignee of certain notes, the complaint alleged that the notes had been assigned and delivered to plaintiff, and evidence that they were transferred and delivered to plaintiff by the payee, long before a written assignment thereon was made, was admitted without objection, such evidence established a prima facie case, regardless of the validity of the assignment.</p> <p>2. Same—Negotiable Notes—Parol Assignment.</p> <p>In the absence of a statute to the contrary, a written assignment of a negotiable note, payable to order, is not necessary to transfer an equitable title to the note to the transferee.</p> <p>3. Same—Action—Foreign Law.</p> <p>Where certain negotiable notes sued on were transferred by parol in Iowa, the transferee was entitled to maintain a suit thereon in his own name under the law of that state.</p>