62-302 Note for patent right; requirements; rights of subsequent parties. - Nebraska Statutes

62-302. Note for patent right; requirements; rights of subsequent parties.A promissory note or other negotiable instrument, the consideration for which consists, in whole or in part, of the right to make, use or vend a patented invention, or an invention claimed to be patented, shall have written or printed prominently and legibly across the face thereof, and above the signature thereto, the words given for a patent right. Such instrument in the hands of any purchaser or holder shall be subject to the same defenses as it would be in the hands of the original owner or holder, and any person who purchases or becomes the holder of a promissory note or other negotiable instrument, knowing it to have been given for the consideration aforesaid, shall hold the same subject to such defenses, although the words given for a patent right are not written or printed upon its face. SourceLaws 1905, c. 83, art. 19, § 196, p. 434; R.S.1913, § 5513; C.S.1922, § 4806; C.S.1929, § 62-1707; R.S.1943, § 62-302.AnnotationsWhere note given for patent right is not so endorsed, it is a defense between the original parties, or against one who is not a bona fide holder. Benton v. Sikyta, 84 Neb. 808, 122 N.W. 61 (1909).