Quebec Bank of Toronto v. Hellman

Summary

The Supreme Court affirmed the dismissal of Quebec Bank of Toronto's suit against Hellman, Assignee, holding that a promissory note delivered conditionally for a specific purpose did not transfer title when that purpose was not fulfilled. The bank, acting through its agent, failed to credit the note's proceeds to the underlying debt as agreed, precluding it from enforcing the note as a bona fide holder.