Opinion
Gen. No. 42,187. (Abstract of Decision.)
Opinion filed June 30, 1943 Rehearing denied September 8, 1943
NEGOTIABLE INSTRUMENTS, § 192 — holder in due course, transferee of note from person to whom sent for collection. Where one of two mortgage notes was sent by the holder to the real estate office at which it was payable, for collection, and the real estate company paid the amount of that note, with interest, to the owner, without informing him that it was advancing the money and had not collected the note but had extended time for payment to the mortgagor, a subsequent transferee of the note from one of the partners of the real estate firm was not a holder in due course, the note not having been negotiated when sent in for collection.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from the Circuit Court of Cook county; the Hon. PHILIP J. FINNEGAN, Judge, presiding.
Decree reversed and cause remanded with directions. Heard in the third division, first district, this court at the April term, 1942.
Randolph Bohrer, for appellant;
Birchard P. Hayes, of counsel;
John A. Zvetina, for appellee;
Henry Pollenz, of counsel.
"Not to be published in full." Opinion filed June 30, 1943; rehearing denied September 8, 1943.