70 Me. 248 | Me. | 1869
This is an action of assumpsit upon a promissory note, dated February '4, 1876, for $287.60 payable to William H. Downs or order, in six months and interest and endorsed by said Downs waiving demand and notice.
The defendant, when he gave the note, promised to pay the same, into whosoever hands it might fall. He notified the world it was given for value and the plaintiff relying on his signature has in good faith paid value for it and is entitled to recover. Farrell v. Lovett, 68 Maine, 326. Abbott v. Rose, 62 Maine, 194. Kellogg v. Curtis, 65 Maine, 59. Kellogg v. Curtis, 69 Maine, 212.
It is therefore unnecessary to examine'the several grounds of defense upon which reliance is placed, inasmuch as they are not open to the defendant, if they are ever so valid as between the maker and payee.
Neither is the defendant entitled to any deduction.- A purchaser of negotiable securities before their maturity, whatever may have been their original infirmity, can, unless he is personally charged with fraud in procuring them, recover against the maker the full amount of them, though he may have paid therefor less than their par value. Cromwell v. County of Sac., 96 U. S. 51.
Judgment for the plaintiff.