Fisk Rubber Co. v. Pinkey

Citations

• 100 Wash. 220
• 170 P. 581
• 1918 Wash. LEXIS 1231

Syllabus

<p>Bills and Notes—Indorsement — Holder in Due Course — Presumption-—Burden of Proof. Tbe subsequent failure of consideration for notes given for the purchase price of land, is not a defense to tbe notes in tbe bands of a bolder in due course, within Rem. Code, § 3443, where tbe unimpeacbed testimony of tbe bolder showed that tbe notes fair on their face, were taken for value in ordinary course, without notice of any infirmity or defect; since tbe presumptions of regularity and consideration are vital and tbe burden of showing title is met by tbe bolder by making out a prima Jade case.</p> <p>Same—Corporation Paper—Indorsement ■—■ By Officer — Holder in Due Course. Where a note payable to a corporation, was indorsed by tbe corporation' by an officer, and used by him as collateral security for bis individual note, tbe indorsee of tbe collateral cannot be a bolder in due course, unless tbe authority of tbe officer to use tbe corporation paper for bis own benefit appears.</p>