Reports of Cases Decided in the Supreme Court of the State of South Dakota Volume 21

Reports of Cases Decided in the Supreme Court of the State of South Dakota Volume 21

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...to receive payment of the amount due upon the note and to release or enter satisfaction of the trust deed. It is true the note itself was made payable to T'. M. Dunn, the wife of J. M. Dunn; but, as we have seen the court in effect findsthat J. M. Dunn was authorized to sign her name in transferring the note, and for the purposes of this decision, we may regard the note in effect payable to J. M. Dunn. The findings of the court, therefore, that Bridgman and wife had actual or constructive notice of facts sufficient to put them upon inquiry as to the ownership of the note at the time they paid the same, is, in our opinion, not supported by the evidence. This case presents another of that class of cases in which one of two innocent parties must suffer, and in such case our Code has provided the rule to be adopted as follows: "Vhere one of two innocent persons must suffer by the act of a third, he by whose negligence it happened must be the sufferer." Rev. Civ. Code, 2442. Clearly in the case at bar the loss was caused by the negligence of the plaintiffs intestate in failing to take an assignment and having the same recorded, as provided by the Code, and in failing to give notice to Bridgman and wife of the transfer of the note and security to him, and in permitting J. I. Dunn to transact all business connected with the collecting of the amount due on the coupons attached to said note. Under the decisions made by this court in Pickford v. Peebles et al., 7 S. D. 166, ' 63 N. '. 779; Reid et al. v. Kellogg, 8 S. D. 596, 67 S. W. 687, and Barry v. tSover, 2o S. D. 459, 107 N. W. 672, it is quite clear that plaintiff's intestate was not entitled to a foreclosure of the trust deed as against Bridgman and wife, and...show more

Product details

  • Paperback | 282 pages
  • 189 x 246 x 15mm | 508g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236761545
  • 9781236761545