INDEX. 589

PROMISSORY NOTES— Continued.

cedent parties, if he takes by indorsement before it becomes due, ac-
quires a valid title and may recover upon it, though as between the
antecedent parties the transaction may be invalid. Gvcyn vs. Lee, 445.
S. The holder of such paper, before it is due, is not bound to prove that he
is a bona fide holder for valuable consideration without notice, for the
law will presume this in the absence of rebutting proof. Ib.
3. If the want, or failure, or illegality of the consideration has been estab-
lished, or if it be shown that the note was lost, or stolen before it
come into the possession of the holder, it is then incumbent on him to
show that he has given value for it. Ib.

PURCHASERS.

1. A trustee selling under a decree of the Court of Chancery, as a general
rule, sells the title of the parties to the suit, and nothing more; and
though a purchaser discovering a defect in his title at the proper time,
may be relieved from his purchase by asking for a rescission of the
sale, he cannot be permitted, whilst holding on to his purchase, to in-
sist upon having his title perfected by the application of the proceeds
of sale, to the extinguishment of the claims of incumbrancers not par-
ties to the suit. DwKtd vs. Speed, 229.

2. If a purchaser would be refused redress upon the ground of a deficiency
in the number of acres, he could not be obliged, under the same cir-
cumstances, to pay for an excess. Goldsborough vs. Kitifgold, 239.

3. A bmafide purchaser of stock in a bank or other corporation, standing

in the name of trustees, without notice of the trust, will be protected

whether the trustees have the legal authority to make the transfer or

not. Jllbert and wife vs. Savings Bank et at., 407.
See EQUITY AND EQUITABLE DEFENCE.

LAPSE OF TIME, 3.

SALES BY TBCSTEES, 2.

USURY,2.
DOWBB, 9.
RATIFICATION OF SALES.
See SALES BY TRUSTEES, 13.

INADBHBACY or PRICE, 1.
RECEIVER.

1, A receiver in strictness should not be appointed before the coming in of
the answers, and although this rule has been broken through, yet the
grounds which will induce the court to disregard it, must be very
strong and special, dark vs. Ridgely, 70.

3. A receiver will not be appointed unless it appears that such a measure
is required to preserve the property from danger of loss. Ib.

3. When an application, by bill or petition, is made to the court to appoint
a receiver, a" sufficient foundation must be laid by stating the facts
which will authorize the interference of the court in this form. Ib.

4. When a bill sets forth the complainant's title, and stated that a ptrty
had wrongfully taken possession of the property, but did not state that
such party was insolvent or unable to account for the same, or that
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