Holmes v. Lykins
Supreme Court of Missouri
Appeal from Kansas City Court of Common Pleas. The note transferred by defendant to Simmerwell operated as a conditional payment upon the note sued on, and stands as payment until returned or accounted for. (Dayton v. Trull, 23 Wend. 345-6 ; Kearslake v. Morgan, 5 T. R. 513 ; Chit. Bills, 97.) . The first note was no payment of the note-sued upon.
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Appeal from Kansas City Court of Common Pleas. The note transferred by defendant to Simmerwell operated as a conditional payment upon the note sued on, and stands as payment until returned or accounted for. (Dayton v. Trull, 23 Wend. 345-6 ; Kearslake v. Morgan, 5 T. R. 513 ; Chit. Bills, 97.) . The first note was no payment of the note-sued upon. (Appleton-. v. Kennon, 19 Mo. 637.) By the terms of the receipt given by Simmerwell to .defendant, it was only taken as collateral security. (1 Smith Lead. Cas., 5th Am..ed.,452.) • A creditor who accepts a note, either as collateral security or…
1Opinion of the CourtAdams, Judge
This was an action on a note executed by the defendant to plaintiff’s intestate. The defendant, by way of counter-claim, set up as a credit the amount of a note which he had transferred to the intestate, and for which he took the following receipt,-
*400“ Received; November 25,1861, óf J. Lykins, one note, signed by John P. Wood, William R. Lykins, G. W. Hutcheson and Joel Groener, trustees of the town of Lawrence, for one thousand dollars, which I am to collect of said trustees with interest, and which, when collected, is to be credited on a certain note which I hold against the said J. Lykins,…
2Cited by3 opinions
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- Schneider Granite Co. v. Gast Realty & Investment Co.Supreme Court of Missouri · 1914