Thornton v. Rankin

• Decision Date: 31 October 1853
• Citation: 19 Mo. 193
• Parties: THORNTON, Respondent, v. RANKIN, Appellant.
• Court: Missouri Supreme Court

19 Mo. 193

THORNTON, Respondent,

v.RANKIN, Appellant.

Supreme Court of Missouri.

October Term, 1853.

1. A note was payable to the order of “I. J. C., guardian,” &c. Held, an endorsement by I. J. C. passed the title to a party who received for value, and in good faith: the words “guardian,” &c., being mere words of description.

Appeal from St. Louis Court of Common Pleas.

George Engelman, on the 1st of December, 1851, became the purchaser of certain real estate belonging to Priscilla and Jacob Cooper, minors, at a sale by Isaac J. Cooper, their guardian, made by order of the Probate Court. For the deferred payments, he executed his negotiable notes payable to the order of “Isaac J. Cooper, guardian,” &c. Before these notes became due, they were, by Isaac J. Cooper, indorsed and delivered to John Thornton for a valuable consideration. Thornton had no notice of the facts connected with the making of the notes, or of the trust wherewith Isaac J. Cooper was clothed in respect thereof, other than was to be gathered from their face. Afterwards, Isaac J. Cooper was removed from the office of guardian, and John H. Rankin was appointed to succeed him. Engelman being forbidden by Rankin to pay the notes to Thornton, filed this petition in the nature of a bill of interpleader. Upon facts found as above stated, the court below ordered the money to be paid to Thornton, and Rankin appealed to this court.

T. T. Gantt, for appellant.

T. Polk, for respondent.

RYLAND, Judge, delivered the opinion of the court.

1. The main question in this case involves the power of the payee, Isaac J. Cooper, to whom the notes were executed, to assign the same.

The appellant, Rankin, contends that the notes given to Isaac. J. Cooper, guardian of Jacob Cooper and Priscilla Cooper, were not the property of said Isaac J. Cooper, in such manner as to authorize him to assign or transfer them.

In the opinion of this court, the notes were the property of said Isaac J. Cooper. He had the legal right to them, and therefore he could sell or assign or transfer them, and his assignee, for value, without notice, would hold them, and have a right to the money arising thereon. The assignee, Thornton, then, in this case has the legal right to the notes in question and to the money arising thereon.

There is no question as to the manner in which Thornton obtained the notes; he paid value for them. The payee, Isaac J. Cooper, transfers to him notes before they become due, and the only way in which Rankin wishes to implicate Thornton, and to affect him with notice, arises from the words ““guardian,” &c., which follow Cooper's name on the face of the notes. We do not consider that these words import any impediment to the right which the payee in them had to sell or transfer them; but that, notwithstanding these words, the full title to the notes and the money they call for was vested in said Isaac J. Cooper.

In the case of Trumbull and others v. Freret, a note was given thus: “Good for one thousand six hundred and forty-three Spanish milled dollars, payable on the first day of...