Kauffman & Runge v. Robey

Citations

• 60 Tex. 308
• 1883 Tex. LEXIS 326

Syllabus

<p>1. Negotiable note—Collateral security.— The transfer of a negotiable note as a collateral security for a pre-existing debt is in due course of trade and for a valuable consideration. Following Liddell v. Crain, 53 Tex., 555. The case is stronger for holding the assignee a bona fide purchaser, when, in addition to the pre-existing debt, money is advanced by him for the benefit of the apparent holder of the note.</p> <p>2. Notice—Principal and agent.— Though a principal is chargeable with notice of all facts coming to the agent’s knowledge while acting within the scope of his agency, lie is not chargeable with notice of such facts if they come to his agent's knowledge while he is engaged in a transaction with which the principal has no concern.</p>