Whitesides v. Wallace

Citations

• 29 S.C.L. 193

Syllabus

<p>1. An action at law may be maintained on a lost note or bill, unless in those cases in which the maker would be liable to one into whose hands the lost note or bill might come. In such case, a Court of Law will not entertain the action.</p> <p>2. Thus, where a sealed note was lost, and not assigned, it was held, the payee might sue and recover on it; because, if sued on again, the action must be in the name of the payee, to which his recovery would be an effectual bar.</p> <p>3. Although a sealed note may be assigned, under the Act of 1798, yet the assignee takes it subject to any bona, fide defence which may be set up against the payee.</p> <p>4. In some cases, this court has taken notice of the equitable rights of a bona fide holder of a sealed note, not assigned, but it has been only so far as to protect the holder against a fraudulent combination of the maker and the payee. (*)</p>