King v. Doane
139 U.S. 166 (1891)

Annotate this Case

U.S. Supreme Court

King v. Doane, 139 U.S. 166 (1891)

King v. Doane

No. 77

Argued November 14, 1890

Decided March 2, 1891

139 U.S. 166

ERROR TO THE CIRCUIT COURT OF THE UNITED

STATES FOR THE DISTRICT OF MINNESOTA

Syllabus

The mere renewal of a negotiable promissory note does not, as between the original parties, affect the essential nature of the transaction represented by it.

If, in an action by an endorsee against the maker of a negotiable promissory note, the note is shown to have been obtained by fraud, the presumption, arising merely from the possession of the instrument, that the holder in good faith paid value, is so far overcome that he cannot have judgment unless it appears affirmatively from all the evidence, whether produced by the one side or the other, that he in fact purchased for value.

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