Lane v. Steward
Supreme Judicial Court of Maine
Assumpsit against the defendant as guarantor and indorser of two promissory notes, signed by John Sargent, Jr. and William T. Sargent. One note was for $440, and interest, dated July 15, 1835, and payable to the defendant or order, in one year, and by him indorsed before maturity to the plaintiff, in the following manner, viz. — “Good to Joshua Lane or order, without notice. Joseph Steward.”
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Assumpsit against the defendant as guarantor and indorser of two promissory notes, signed by John Sargent, Jr. and William T. Sargent. One note was for $440, and interest, dated July 15, 1835, and payable to the defendant or order, in one year, and by him indorsed before maturity to the plaintiff, in the following manner, viz. — “Good to Joshua Lane or order, without notice. Joseph Steward.” The other note was for $150, and was dated June 1, 1835, payable in one year from date, and indorsed in the same manner as the first. The writ contained the usual money counts. It was dated April 16,…
1Opinion of the Court
The opinion of the Court was delivered by
Si-iepley J.
The defendant being the payee and holder of two negotiable promissory notes indorsed them to the plaintiff, “ good to Joshua Lane or order without notice.” This cannot be considered a contract of guarranty. It is in substance an engagement to be accountable as indorser without notice. And such a contract does not dispense with a demand upon the maker. Burnham v. Webster, 17 Maine R. 50; There was a partial payment actually made by the maker on the day it became due, on the note for one hundred and fifty dollars; and it authorizes the…
2Cases cited1 opinion
- Union Bank v. HydeSupreme Court of the United States · 1821
3Cited by8 opinions
- Anderson v. LaddTexas Supreme Court · 1938
- Farmers' & Mechanics' Nat. Bank of Fort Worth v. HeadTexas Commission of Appeals · 1928
- Burgettstown National Bank v. NillSupreme Court of Pennsylvania · 1906
- Cummings v. KentOhio Supreme Court · 1886
- Durant v. BantaSupreme Court of New Jersey · 1858
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