Payne v. Bensley

Citations

• 8 Cal. 260

Syllabus

<p>Where a negotiable promissory note, not yet due, is taken bona Jidc, as collateral security for a pre-existing debt, it is not subject to any defence existing at the date of the assignment between the original parties.</p> <p>A pledge of personal property is a “mortgage,” within the meaning of the Attachment Act; the word, being there used in its most general signification, meaning “security.”</p>