McNamara v. Jose

Citations

• 28 Wash. 461
• 68 P. 903
• 1902 Wash. LEXIS 505

Syllabus

<p>BILLS AND NOTES ■— BAD FAITH OF PURCHASER-INSUFFICIENCY OF EVIDENCE.</p> <p>Bad faith on the part of the purchaser of a promissory note against which the maker had a valid defense is not shown by evidence that it was purchased at a heavy discount, without inquiry of the maker, whom the purchaser knew to be perfectly solvent, when it appears that inquiry was made of the payee as to the consideration for the note; that the payee was in need of money; that the note, though held at the time in this state, was payable at Cape Nome, Alaska, of whose inaccessibility for half the year the court would take judicial notice; and that the note was purchased three months before maturity without notice of any infirmity in the instrument.</p> <p>SAME-’PURCHASE AT DISCOUNT-AMOUNT OP RECOVERY.</p> <p>Under Laws 1899, p. 350, § 57, which provides that the holder of a negotiable instrument may enforce payment for the full amount against all parties liable thereon, recovery upon a promissory note by the purchaser thereof is not limited to the amount paid for the note.</p>