7 Kan. App. 728 | Kan. Ct. App. | 1898
The opinion of the court was delivered by
This action was commenced in the district court of Barton county by the plaintiff in error to recover a judgment against the defendant in error upon a non-negotiable note of $600 and an interest coupon of $21 annexed to and bearing even date with the principal note. The principal note is numbered 6171, and the coupon recites that it is for six months’ interest on $600 loaned, as appears by bond No. 6171. Judgment was rendered for the defendant, and plaintiff brings the case here for review.
The defendant in error alleges that the note, coupon and mortgage were non-negotiable and owned by the Western Farm Mortgage Company and were a loan of its money, but that they were taken in the name of W. J. Neill as agent of the company, and were for its
The court found for the defendant, and ordered the cancellation of the note, coupon and mortgage and the satisfaction of the mortgage.
The note being non-negotiable, and the maker having neither actual or construetive notice of its assignment, he is protected in making payment to the payee. (Wade on Notice, § 431; 1 Jones on Mortgages, § 956.)
The only remaining question is whether the coupon is negotiable. The note and coupon were executed together, as parts of one and the same instrument, and must be construed together. Not only this, but in the body of the coupon it is recited that ‘ ‘ This coupon is for six months’ interest, due at the maturity hereof, on $600 loaned, as appears by bond No. 6171.” We therefore hold that the coupon is non-negotiable.
The judgment of the district court is affirmed.