Shipley v. Carroll

Citations

• 45 Ill. 285

Syllabus

<p>1. Promissory notes — indorsements—fraud — assignees. To render a promissory note void in the hands of a bona fide assignee, the fraud must relate to the execution of the note itself, and not to the consideration.</p> <p>2. A false representation as to the amount or other terms of the instrument, or of its nature and character, is what is embraced in the term, fraud and circumvention in procuring the execution of the instrument.</p> <p>3. Same — bona fide holder — stolen note. The innocent holder for value of negotiable paper, indorsed before maturity, is protected under the rules of the common law, although the instrument may have been stolen, or otherwise wrongfully put into circulation.</p>