Weddigen v. Boston Elastic Fabric Co.
Massachusetts Supreme Judicial Court
Contract by merchants in New York on an account for goods sold to the defendants, a corporation established in Boston ; submitted to the determination of the superior court, and, on appeal, of this court, upon agreed facts, in substance as follows: On the afternoon of February 28, 1867, the defendants inclosed in a letter and mailed to the plaintiffs, to pay for the goods, a draft by Mellen, Ward & Co., bankers in Boston, on Smith, Randall & Co., bankers in New York, for the…
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Contract by merchants in New York on an account for goods sold to the defendants, a corporation established in Boston ; submitted to the determination of the superior court, and, on appeal, of this court, upon agreed facts, in substance as follows: On the afternoon of February 28, 1867, the defendants inclosed in a letter and mailed to the plaintiffs, to pay for the goods, a draft by Mellen, Ward & Co., bankers in Boston, on Smith, Randall & Co., bankers in New York, for the amount of the account in suit, payable upon presentation, at sight, without grace. The mail was due in New York on the…
1Opinion of the CourtFoster, J.
The defence of payment in this case cannot be maintained. The draft by Mellen, Ward & Co. on Smith, Randall & Co. of New York was a check, or draft, on a firm of private bankers, payable upon presentation, at sight, without grace. It operated as a conditional payment only of the original debt. In such a case, if the check or draft is presented for payment *424within a reasonable time, and the bank or banker fails, the loss does not fall upon the holder, unless he has agreed to bear the risks, but he may return it to the party from whom he has received it, and maintain suit upon his original cause…
2Cases cited1 opinion
- Whitney v. EssonMassachusetts Supreme Judicial Court · 1868
3Cited by21 opinions
- Reggio v. WarrenMassachusetts Supreme Judicial Court · 1911
- McFadden v. FollrathSupreme Court of Minnesota · 1911
- Ahern v. TowleMassachusetts Supreme Judicial Court · 1942
- Hecht v. BatchellerMassachusetts Supreme Judicial Court · 1888
- Dille v. WhiteSupreme Court of Iowa · 1906
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