Gray v. Boyle

Citations

• 55 Wash. 578
• 104 P. 828
• 1909 Wash. LEXIS 803

Syllabus

<p>Bills and Notes — Bona Fide Purchaser — Holder in Due Course —Negligence. One who purchases a note for value before maturity without notice of any defect, is a holder in due course, within Laws 1899, p. 350, §§ 52, 56, and his rights cannot be defeated without proof of actual notice of defects or bad faith, even if he omitted precautions or was negligent.</p> <p>Bills and Notes — Bona Fide Purchasers — Legality of Consideration — Violation of Statute — Effect. Laws 1905, p. 373, prohibiting insurance rebates does not invalidate a note given for the premiums in violation of the statute, as against a holder of the note in due course; since it is not the policy of the law to render negotiable paper void in the hands of innocent holders where the statute has not so expressly declared.</p>