18 Ga. App. 420 | Ga. Ct. App. | 1916
1. Any person indorsing or transferring a note may limit his own liability upon such indorsement or transfer, but he must do so by express restrictions contained in the indorsement or transfer. Civil Code, § 4275.
2. The holder of a negotiable note is presumed to be a bona fide purchaser for value; and such a holder could maintain suit on the note against a payee signing a transfer indorsed thereon as follows: “I hereby transfer my interest in this note to” J. W. B.; the suit being against the original maker and the person so indorsing. “Where the payee of such an instrument, by a writing placed on the back of it, ‘transfers, sells, and assigns’ the bill of sale, the note, and the title to the property, to a third person, he becomes such an indorser as to be