Security Trust & Safe Deposit Co. v. Duross

Citations

• 27 Del. 111
• 4 Boyce 111
• 86 A. 209
• 1913 Del. LEXIS 21

Syllabus

<p>Bills and Notes—Actions—Defenses.</p> <p>Where plaintiff was the holder of a note in due course, that the note was issued by defendant without any consideration, and that the fact was known to plaintiff before it became the holder thereof, is no defense, in view of 26 Del. Laws, c. 191, §§ 24, 28,57 and $ 29, providing that a holder in due course holds the instrument free from defect of title of prior parties, that failure of consideration is a matter of defense as against any person not a holder in due course, and that an accommodation party is liable to a holder for value, though such holder, when he took the instrument, knew him to be only an accommodation party.</p>