New York Court of Appeals
Alpheus Chapman, Appellant, Agt. Silas Rose, Respondent
March 24, 187456 N.Y. 137
Summary
The Court reversed the judgment and ordered a new trial, holding that a maker who signs a promissory note under fraudulent misrepresentation is liable to a holder in good faith, and that mere negligence, however gross, is insufficient to deprive a party of the status of a bona fide holder. The trial court's jury instruction excluding consideration of fraud was erroneous.