Read the full judgment text of HCA 001565/1972 on BabelCite. This High Court CFI judgment.
1. There is no question that in this case the plaintiffs have not the slightest moral claim to the defendant's money. The only question is whether or not they have a legal claim thereto. At first sight I was of the opinion that this case was, as the plaintiffs have claimed, an example of the almost unassailable position of a holder in due course who takes for value and without notice of any fraud or illegality. On further consideration, I am happy to say that that is not the position and that la