President of the Portland Bank v. Storer
Massachusetts Supreme Judicial Court
Assumpsit by the plaintiffs, as endorsees of an order bearing date September 25, 1809, drawn by the defendant, for the sum of 859 dollars 74 cents, on G. Bradbury, Esq., as president of the Maine Fire and Marine Insurance Company, in favor of Joseph S'wifi, cashier of said bank, and by him endorsed to the plaintiffs.
Read the full summary
Assumpsit by the plaintiffs, as endorsees of an order bearing date September 25, 1809, drawn by the defendant, for the sum of 859 dollars 74 cents, on G. Bradbury, Esq., as president of the Maine Fire and Marine Insurance Company, in favor of Joseph S'wifi, cashier of said bank, and by him endorsed to the plaintiffs. The cause was tried on the issue of non assumpsit, before Thatcher, J., at an adjournment of the last May term in this county ; when the plaintiffs proved that the order was drawn by the defendant, was duly presented to the drawee for acceptance and payment, that both were…
1Opinion of the Court
By the Court,
(except Sewall, J., who did not hear the argu ment.) There seems no ground for the defence on the ground of *363usury. The defendant might have discharged himself by paying the money due by his promises, which were to pay in cash. As the transaction did not in itself import usury, if the defendant thought it merely colorable, he should have put it to the jury to decide. There is as little ground in the second point. The construction of the statute contended for is too narrow. We all remember the runs upon the banks in this section of the state. It was competent to the directors, and…
2Cited by4 opinions
- Pomeroy v. AinsworthNew York Supreme Court · 1856
- Pomeroy v. AinsworthNew York Supreme Court · 1856
- Federal Trust Co. v. State BankMassachusetts Supreme Judicial Court · 1922
- Bank of Orleans v. CurtisMassachusetts Supreme Judicial Court · 1846