Lebo State Bank v. Booth

Citations

• 111 Kan. 222
• 206 P. 743
• 1922 Kan. LEXIS 208

Syllabus

<p>syllabus by the court.</p> <p>1. Accommodation Promissory Note — Good in Hands of Endorsee. An accommodatioa promissory note is good in the hands of an endorsee who holds it in due course, although the note was secured from the maker by the fraud of the payee.</p> <p>2. Same — Unavailable Defenses — Unauthorized Endorsement.- The maker of a promissory note cannot defeat it by showing that those who endorsed the payee’s name in transferring it had no authority to make the endorsement where the payee receives the proceeds arising from the endorsement of the note, claims no further interest in it, and has knowledge of the action commenced by the endorsee to enforce its payment.</p>