149 Minn. 266 | Minn. | 1921
Action on a promissory note. There was a verdict for the plaintiff, The defendant appeals from the order denying his motion for a new trial.
There was evidence that the note, alohg with others, was given in renewal of a note or notes, valid so far as appears, made by the defendant to Schafer in March, 1918. This was the claim of the plaintiff. The claim of the plaintiff and that of the defendant were necessarily hostile. Both could not be true.
The court submitted both theories to the jury. It charged, relative to the claim of the plaintiff, that if the note in suit was a renewal of a former note given by the defendant to Schafer, which as we have said was apparently valid, then it was given upon a -valuable consideration and the defense claimed by the defendant was not made out. The only error claimd is in this charge.
The charge was correct. If the note was a renewal, it had a real inception when made and delivered, was supported by & consideration, and was unlike the accommodation note in McWethy v. Norby, which was without vitality until negotiated by the p-ayee; and a promise by the payee in the ease at bar -that he would use it as collateral to a specific obligation and would not negotiate it elsewhere, would be no defense. If it was an actual obligation, owing from the defendant to the plaintiff, he could use it as he pleased. If he did not negotiate it he could recover upon it, and if he negotiated it his assignee could recover.
Whether the plaintiff was a bona fide purchaser was an issue. The
Order affirmed.