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The Codified Negotiable Instruments Law of the State of New York
The Codified Negotiable Instruments Law of the State of New York Author:New York Subtitle: Laws of New York, 1897, Chapter 612. Being Chapter L of the General Laws (also Laws of Connecticut, 1897, Chapter 74; Laws of Colorado, 1897, Chapter 239; Laws of Florida, 1897; Chapter 4524) With an Appendix Containing New York Interest Laws General Books publication date: 2009 Original publication date: 1897 Original Publisher: Ma... more »tthew Bender, publisher Notes: This is a black and white OCR reprint of the original. It has no illustrations and there may be typos or missing text. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. Excerpt: As to protection of holder pro tanto under this rule, which is declaratory of the law, see Daniel, sec. 7983. Weaver v. Harden, 49 N. Y. 286. When title defective. § 94. The title of a person who negotiates an instrument is defective within the meaning of this act when he obtained the instrument, or any signature thereto, by fraud, duress, or force and fear, or other unlawful means, or for an illegal consideration, or when he negotiates it in breach of faith, or under such circumstances as amounts to a fraud. The first part of this section, relating to fraud, duress, etc., is a rule applying to all contracts. The whole section is taken from the English act, sec. 29, subd. 2, under which is cited by Mr. Campbell, Jones v. Gordon, 2 App. Cas. 616, 4 Eng. Rul. Cas. 416. The latter part of such section would undoubtedly cover such cases as where accommodation paper is wrongfully diverted and the holder had notice of such fact. See Small v. Smith, i Denio, 583. Proof of diversion of negotiable paper from the purpose for which it was delivered by the maker, casts upon the holder the burden of showing that he is, or has succeeded to the rights of, a bona fide holder. Farmers', etc. Bank v. Noxon, 45 N. Y. 762. It must be regarded as a settled rule that when a maker of negotiable paper shows that it has been ...« less