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MFRS. TRUST CO. v. PASE MOTORS

8 Misc.2d 1040 (1957)

Manufacturers Trust Company, Appellant, v. Pase Motors, Inc., Respondent.

Supreme Court, Appellate Term, First Department.

January 17, 1957.

Attorney(s) appearing for the Case

Martin L. Stein and Robert B. Frank for appellant.

Irving M. Berg for respondent.

HECHT, AURELIO and TILZER, JJ., concur.

Per Curiam.

Pursuant to section 115 of the Negotiable Instruments Law every person negotiating an instrument by delivery or by a qualified indorsement warrants that all parties had capacity to contract. Consequently, when defendant negotiated the note in question to plaintiff, indorsed without recourse, for value, and before maturity, it was liable to the plaintiff on the note and its defense that one of the makers was without capacity to contract because of...

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