Garrett v. Fernauld

Citations

• 63 Fla. 434

Syllabus

<p>Where B. executes to W. a note and a mortgage upon land to secure its payment, and W. assigns the note and mortgage before maturity to B\\ and B. thereafter conveys the land to G. who pays W. the balance he claims to be due on the note but does not procure the surrender or cancellation of the note, G. cannot assert Ms payment to W. in defense of a foreclosure suit by F. who is the holder of the note and mortgage, there being no evidence that W. was authorized by F. to receive the payment made to him by G., or that W. was authorized to cancel the mortgage of record as he did after the conveyance from B. to G. In such a case the loss to G. results from his own failure to have the note surrendered or to ascertain its real owner.</p>