FARMERS MER. BANK v. BANK OF HEMINGWAY

Messrs. Kelly Hinds, for appellant, submit: It is an admitted fact that the mortgagor, without any notice of the assignment of the mortgage, turned over and delivered to the mortgagee the mortgaged property. If this case is not controlled by the Negotiable Instruments Law, then those facts operated as a satisfaction of the mortgage and plaintiff has no right to maintain this action: 27 Cyc. 1315; 56 S.C. 316; 28 S.C. 217; 26 S.C. 506; 110 S.C. 307. An innocent endorsee for value in due course before maturity of a negotiable instrument, in order to preserve and protect his rights as such, is required before maturity to give the maker of the instrument notice of the endorsement or assignment, otherwise the payment to the original payee after maturity without notice of assignment will operate as a discharge of such negotiable instrument: Negotiable Instruments Law, 28 Stats. 686, subdivision 4, section 119. Messrs. Arrowsmith, Muldrow, Bridges Hicks, for respondent.