McMahon v. Thomas

Citations

• 4 Cal. Unrep. 984
• 39 P. 783
• 1895 Cal. LEXIS 1133

Syllabus

<p>Notes—Bona Fide Holder.—A Regularly Authorized Insurance Agent to whom is forwarded by his company a policy to be delivered to the assured, together with the latter’s note for collection or discount, and who discounts it without any knowledge of the soliciting agent’s alleged fraudulent representations in procuring the policy, and who has no interest in the insurance or collection with the soliciting agent except an agreement that he will discount notes taken by the latter1, is a bona fide holder of the note, and the soliciting agent’s misrepresentations are not available as a defense against him.</p>