Whitmore v. Adams

17 Iowa 567
CourtSupreme Court of Iowa
DecidedDecember 14, 1864
StatusPublished
Cited by1 cases

This text of 17 Iowa 567 (Whitmore v. Adams) is published on Counsel Stack Legal Research, covering Supreme Court of Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Whitmore v. Adams, 17 Iowa 567 (iowa 1864).

Opinion

Lowe, J.

1. promis-Copartner-' shlp' The appellant insists upon the liability of Whitmore and Burnett, on said note and judgment, for the reason, that although Kauffman could not bind his copartners as sureties for the debt of Smith, Davis & Co., without their assent or concurrence, yet that he was a bona fide holder, not knowing that such assent had not been given. But it will be seen, from the facts disclosed that he does not occupy the position of an innocent assignee. He was himself the payee, and one of s_Bona flde holder. the original parties to the paper. He knew, or fia(j sufficient reason to know, from what had transpired between himself and Smith, Davis & Co., before he delivered the goods or took the note, that the latter was signed by Kauffman, Whitmore & Co., simply as sureties, and being presumed to be acquainted with the known limitations of the law of partnership agencies, as they everywhere exist in the trading world, he was reasonably put upon inquiry, which, if made, would in all likelihood have set him right, but neglecting the same, he must now [569]*569be treated as baying taken the note, under the circumstances, at his peril — citing Story on Prom. Notes, § 72 ; and Story on Part., §§ 127, 128; and authorities cited in notes, &c.

Affirmed.

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Related

Union National Bank v. Underhill
28 N.Y. Sup. Ct. 178 (New York Supreme Court, 1880)

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Bluebook (online)
17 Iowa 567, Counsel Stack Legal Research, https://law.counselstack.com/opinion/whitmore-v-adams-iowa-1864.