Arents v. Commonwealth
Supreme Court of Virginia
This was a proceeding under the statute in the Circuit Court of the city of Richmond by George Arents against the Auditor of Public Accounts, to recover the amount of a number of coupons for interest due upon bonds issued by the city of Wheeling, and guaranteed by the State of Virginia.
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This was a proceeding under the statute in the Circuit Court of the city of Richmond by George Arents against the Auditor of Public Accounts, to recover the amount of a number of coupons for interest due upon bonds issued by the city of Wheeling, and guaranteed by the State of Virginia. They were for interest due upon the bonds, for January and July 1862, 1863, and January, 1864. The auditor filed his answer to the petition, and objected to the payment of the amount claimed, on the grounds: First— That the coupons held by Arents were stolen or abstracted from the Second Auditor’s office in…
1Opinion of the CourtRives, J.
Recent decisions of the Supreme Court of the United States have regarded and treated corporation and municipal bonds, with coupons, payable to bearer, as negotiable instruments. Moran v. Commissioners of Miami County, 2 Black’s U. S. R. 722; Mercer County v. Hacket, 1 Wall. U. S. R. 83; Gelpcke & als. v. City of Dubuque, Id. 175; Thomson v. Lee County, 3 Wall. U. S. R. 327. They are negotiable securities, having all the qualities and incidents of commercial paper, and imparting to the holder a perfect title by delivery. This doctrine proceeds not only on grounds of public policy, but is…
2Cases cited1 opinion
- Lander v. ClarkThe Superior Court of New York City · 1828