Padfield v. Green

Citations

• 85 Ill. 529

Syllabus

<p>1. Agency—jpower of agent over note for collection. The delivery of a note to an agent for collection, will authorize the holder to receive payment when due, and to deliver the note to the maker on payment, but it does not authorize the agent to commute the debt for another thing, or to release it upon composition, or to pledge it, or to obtain judgment for his own use.</p> <p>2. Assignee of judgment—rights of owner, in equity. The assignee of a judgment occupies no more favored position than that of the assignor.</p> <p>3. Where an agent for collection merely, sues upon the note entrusted to him, and obtains judgment for his own use, and assigns such judgment for value, the nominal plaintiff, having no knowledge of the facts until after the assignment, and having done no act to create an estoppel, may enjoin the payment of the judgment to the assignee, and have the assignment set aside in equity.</p>