Williams v. Galt

Citations

• 95 Ill. 172
• 1880 Ill. LEXIS 163

Syllabus

<p>Assignment—sufficiency to pass title. Where the payees of a note, being bankers, made an assignment thereof by indorsement to the plaintiff, and placed the note in an envelop that contained other papers of the plaintiff, and at the same time credited their account with bills receivable and charged the plaintiff’s account as treasurer of a cheese factory with the amount of the note and interest, and on the next day, without any further delivery, made a voluntary assignment for the benefit of their creditors, this note not being included in the schedule of property delivered to the assignee, and not passing into his hands, and the payees on the same morning the assignee took possession of the effects of the bank, delivered the note to the plaintiff: Held, that the indorsement not only passed the legal, but also the equitable title of the note to the plaintiff.</p>