Ex parte Tremont Nat. Bank
District Court, D. Massachusetts
The Tremont National Bank held certain promissory notes of third persons, indorsed by the bankrupts [George & Battey], which fell due after the adjudication of bankruptcy and before the appointment of the assignee. During this period, and before the maturity of the several notes, the bankrupts, at the request of the bank through its attorney, signed a waiver of demand and notice, which accordingly were not duly made.
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The Tremont National Bank held certain promissory notes of third persons, indorsed by the bankrupts [George & Battey], which fell due after the adjudication of bankruptcy and before the appointment of the assignee. During this period, and before the maturity of the several notes, the bankrupts, at the request of the bank through its attorney, signed a waiver of demand and notice, which accordingly were not duly made. Upon an offer by the bank to prove against the assets for the amount of the notes, the assignee objected, and the case - was submitted to the court upon a written agreement of…
1Opinion of the Court
LOWELL, District Judge.
It was decided by Lord Eldon in 1812, that when a bill is dishonored after the bankruptcy of the drawer, a notice to him is a sufficient and proper notice if his assignee has not been appointed. ‘ “The bankrupt,” says the learned judge, “represents his estate until assignees are chosen.” Ex parte Moline, 19 Ves. 216. This statement of the law has been copied into the text-books, and was the guide, most probably, of the action of the bank in this case. Story, Bills, § 305; Byles, Bills, 228. See Ex parte Johnson, 3 Deac. & C. 433. Mr. Robson says, notice should be given…
2Cited by2 opinions
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