Nathan Clifford

Name: Collins v. Gilbert — Opinion of the Court
Author: Nathan Clifford

Collins v. Gilbert — Opinion of the Court

Summary

“Collins v. Gilbert — Opinion of the Court”, is a work by Nathan Clifford. It explores elements such as holder, contractor and instrument.

Quotes from Collins v. Gilbert — Opinion of the Court (Nathan Clifford)

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ Proof of gross negligence is not sufficient to overcome the prima facie presumption of title arising from possession; but if it be alleged and proved that the instrument had its inception in illegality or fraud, a presumption arises from that proof that the plaintiff took it without value, or, in other words, it so far shifts the burden of proof, that, unless the plaintiff gives satisfactory evidence that he gave value for the same, the defence will prevail. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ Chitty says that the old rule of law, that the holder of bills of exchange, indorsed in blank and transferable by delivery, can give a title which he does not possess to a person taking the same bona fide for value, is again re-established in its fullest extent. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ Neither illegality of consideration nor fraud in the inception of the instrument is charged or pretended; nor is it alleged that the acceptance had been lost or stolen before the plaintiffs received it for discount. Instead of that, the theory of the defendant assumes that the contractor became the lawful holder of the acceptance indorsed in blank for the specified purpose, which is an implied admission that the acceptance was one of a class of commercial instruments which may be transferred by delivery. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ Instruments of the kind are commercial paper in the strictest sense, and must ever be regarded as favored instruments as well on account of their negotiable quality as their universal convenience in mercantile affairs. They may be transferred by indorsement, or, when indorsed in blank or made payable to bearer, they are transferable by mere delivery. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ If it appears that the bill or note was obtained by fraud, or that it had been stolen before it came to the possession of the holder, then the presumption may arise that the holder did not pay full consideration for it, because in such a case it is probable that the person obtaining the instrument would pass it away for less than its full value. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ So that if such a bill or note be made without consideration, or be lost or stolen and afterwards be negotiated for a valuable consideration, in the usual course of business, to one who has no knowledge of those facts, his title is good, and he shall be entitled to receive the amount. ”

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Source: Wikisource

Nathan Clifford, Collins v. Gilbert — Opinion of the Court

“ Evidence having been given by the same witness that there was an arrangement between the sub-contractors and the contractor, to the effect that the latter would advance money to the former to pay their men, upon their giving to the contractor the defendant's acceptance, to be retained by him in lieu of the stipulated percentage, the defendant proposed to show by the same witness that the work was finished by the defendant, and that by the terms of the contract all of the percentage retained became due and payable when the contract was completed ”

Nathan Clifford

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Quotes from Collins v. Gilbert — Opinion of the Court (Nathan Clifford)

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