Reardan v. Cockrell

Citations

• 54 Wash. 400
• 103 P. 457
• 1909 Wash. LEXIS 1006

Syllabus

<p>Bills and Notes — Bona Fide Purchasers — Transfer After Maturity — Equities Between Intermediate Holders. While the innocent purchaser of a note after maturity takes the same subject to equities between the original parties, the rule has no application to, and he is not charged with, equities affecting intermediate holders or indorsers, where there was no illegality in the inception of the note.</p> <p>Same — Payments — Negligence of Payor. Where the payors caused a note to be placed in the hands of a third party to be negotiated, and made payments, which through their negligence were not indorsed thereon, to the injury of an innocent third party purchasing the note, the negligent payors must stand the loss.</p>