Cleaden v. Webb
Superior Court of Delaware
This was an action of assumpsit on a promissory note for $560.33, made on the 16th of March 1872, by Lewis & Son to the order of James Webb, and by him indorsed to James deaden, payable-thirty days after date; and the only defence was usury.
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This was an action of assumpsit on a promissory note for $560.33, made on the 16th of March 1872, by Lewis & Son to the order of James Webb, and by him indorsed to James deaden, payable-thirty days after date; and the only defence was usury. After proof of the note and notice of protest for non payment at maturity upon the defendant by the counsel for the plaintiff, James Lewis, one of the firm of Lewis & Son, the makers of it, was called as a witness by the counsel for the defendant to prove the character and usury of it.
1Opinion of the Court
Bayard.
There is such a thing known to the law as an estoppel in mercantile transactions and the circulation and transfer of commercial or negotiable paper, and the wisdom of the law as well as the policy and commercial prosperity of the public, certainly forbids that any man should out of his own mouth he allowed to impeach or impugn the validity and credit of his own promissory note after he has deliberately subscribed his name to it, and seen it negotiated an'd the money realized upon it in the usual course of such dealings and transactions. 2 Smith’s Ld. Ca. 565.
JBy the Court.
The question…
2Cases cited14 opinions
- Andrews v. PondSupreme Court of the United States · 1839
- Munn v. President & Directors of Commission Co.New York Supreme Court · 1818
- Powell v. WatersNew York Supreme Court · 1819
- Levy v. GadsbySupreme Court of the United States · 1805
- Powell v. WatersCourt for the Trial of Impeachments and Correction of Errors · 1826
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