Selected Cases On the Law of Negotiable Instruments

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Rep. 626) ; Borough of Milford v. Milford Water C, 124 Pa. St. 610 (17 Atl. 185, 3 L. R. A. 122) ; Edgerly v. Hale, 71 N.
H. 138 (51 Atl. 679) ; Woods v. Armstrong, 54 Ala. 152 (25 Am.
Rep. 671) ; McConnell v. Kitchens, 20 S. C. 430 (47 Am. Rep.
Union Trust Co. v. Preston National Bank 243 845) ; Texarkma, &c, R. Co. v. Lumber Co., 67 Ark. 542 (55 S.
W. 944) ; Snoddy v. Bank, 88 Tenn. 573 (13 S. W. 127, 7 L. R.
A. 705, 17 Am. St. Rep. 918).
None of these authorities, except Texarkana, etc., R.
...Co. v.
Lumber Co. and Snoddy v. Bank, which will receive attention later in this opinion, related to a case of negotiable paper in the hands of a bona fide holder. All that can justly be claimed for these authorities, with the exceptions above referred to, is that they hold that, when the making of a contract is prohibited and made a crime by statute, it is void as between the original parties, or — what is the same thing — as between parties who do not stand in the attitude of a bona fide holder of negotiable paper arising therefrom.


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