57 Neb. 424 | Neb. | 1899
Milton Montgomery sued F. M. Sackett, and obtained judgment against Mm on a promissory note executed by tbe defendant and one John Dickenson, and payable to Montgomery & Jaycox, or order. Two defenses were presented, namely, that plaintiff was not the owner of the note, and that the payees had already obtained judgment against both makers for the full amount due thereon. Since the docketing of the cause in this court the death of the plaintiff below was suggested, and by agreement of parties an order was duly entered reviving the action in the name of his executors
As to the ownership of the note the evidence, without contradiction, shows that at the date of the institution of suit said Milton Montgomery was the owner of the paper, and on his behalf it was produced and introduced in evidence on the trial. The note was payable to the order of the payees, but did not contain their indorsement. This fact, however, did not prevent an equitable assignment of the paper to the decedent. A note payable to a party or order may be transferred by -the payee, without a commercial indorsement, by either an oral or a separate, distinct, written assignment thereof, followed by delivery, which would render the transferee liable-to any defenses against the original payee. (Doll v. Hollenbeck, 19 Neb. 639; Colby v. Parker, 34 Neb. 510; Gaylord v. Nebraska, Savings & Exchange Bank, 54 Neb. 104; Marskey v. Turner, 81 Mich. 62; Benson v. Abbott, 22 S. E. Rep. [Ga.] 127; Thomson-Houston Electric Co. v. Capitol Electric Co., 56 Fed. Rep. 849.)
As to the plea of estoppel by reason-of a former judgment, the record discloses the following facts: On June
Affirmed.