United States National Bank of New York v. McNair

Citations

• 114 N.C. 335

Syllabus

<p>Hanks — Negotiable Note — Bona Ficle Purchaser.</p> <p>Plaintiff bank rediscounted' for N. Bank, along with other notes, a note of the defendants (against which the latter claimed an equity) and placed the proceeds to the credit of N. Bank, and before receiving notice of the equity paid checks of N. Bank to the extent of half of the proceeds of such rediscount: Held, that plaintiff was a purchaser of such note for value, although between the date of such rediscount and notice of the equity plaintiff had credited other items to N. Bank and at time of such notice owed the latter, more than the proceeds of the rediscount.</p>