Stokes v. Winslow
Mississippi Supreme Court
In error from the Circuit Court of Hinds county. Hon. John I. Gruion, judge. A full abstract of the case will be found in Mr. Wharton’s brief. Contended that, as the bill was payable to Kibbee or bearer, the acceptor was liable to any one who might become the holder; and being primarily liable he can set up no want of consideration to the drawer.
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In error from the Circuit Court of Hinds county. Hon. John I. Gruion, judge. A full abstract of the case will be found in Mr. Wharton’s brief. Contended that, as the bill was payable to Kibbee or bearer, the acceptor was liable to any one who might become the holder; and being primarily liable he can set up no want of consideration to the drawer. See Chitty on Bills, 183, 184. The defendant in error accepted a draft of one Marshall, in favor of one Kibbee; plaintiff in error became the purchaser and holder of said draft, and brought suit on it against the acceptor. The answer alleged that…
1Per curiam
— This was an action on a bill of exchange payable to hearer, and the only question is whether upon such an instru*520ment, a failure of consideration between the drawer and payee can be set up in an action by the plaintiff, who was not the payee but became the “ bearer” of the bill, against the acceptor.
It is held in Tillman v. Ailles, 5 S. & M. 373, that upon an instrument of this character, there is a separate and direct contract between the parties primarily liable on the paper, and whoever may become the holder of it, and that such paper is not within the principle of the statute of 1822, in…
2Cited by2 opinions
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