X, entrusted with the safekeeping of negotiable bearer bonds of A and B, stole A's bonds. On A's request for his securities, X, purporting to deliver what was requested, delivered B's bonds. The wrongdoing was not discovered for over a year. B then sued A to recover the bonds. Held, B may recover, for A is not a purchaser for value. State ex rel. Sorenson v. Nebraska State Sav. Bank, (Neb. 1934) 255 N. W. 52.
BILLS AND NOTES - HOLDER IN DUE COURSE -ANTECEDENT OBLIGATION AS VALUE,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol33/iss4/10