First National Bank of Parkersburg v. Johns

Citations

• 22 W. Va. 520
• 1883 W. Va. LEXIS 77

Syllabus

<p>1. A bona fide holder of negotiable paper, who purchased it for value in the ordinary course of business, before maturity and without notice of facts, which impeach its validity between antecedent parties, has title thereto unaffected by such facts and may recover on such note, although as between such antecedent parties it is without legal validity, (p. 524.)</p> <p>2. A bona fide holder of negotiable paper has a valid title and can recover against the maker thereof, unless at the time he purchased the note it was absolutely void, although the maker was induced to sign such note by fraud, not intending to sign such a note but a paper of an entirely different character. And in such case the question of negligence in the maker forms no legitimate subject of enquiry, (p. 585.)</p> <p>3. Where one of two innocent, parties must suffer by the act of a third, the one, who by his act has enabled such third person to cause the loss, must sustain it. (p. 535.)</p> <p>4. The case of Bank v. Mordicad, 5 W. Va. 74, overruled, fp. 534.)</p>