Wills v. Claflin
Supreme Court of the United States
Error to the Circuit Court of the United States for the Northern District of Illinois. This is a suit by the defendants in error, as the assignees of certain promissory notes, against the plaintiffs in error as the assignors.
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Error to the Circuit Court of the United States for the Northern District of Illinois. This is a suit by the defendants in error, as the assignees of certain promissory notes, against the plaintiffs in error as the assignors. The statute of Illinois bearing upon the case is as follows: — “ Sect. 7. Every assignor or assignors, or his, her, or their heirs, executors, or administrators, of every such note, bond, bill, or other instrument in writing, shall be liable to the action of the assignee or assignees thereof, or his, her, or their executors or administrators, if such assignee or…
1Opinion of the CourtJustice Davis
Claflin & Co., assignees of certain promissory notes, sued Wills, Gregg, & Co., assignors of said notes, on their contract of assignment made in the State of Illinois. The inquiry is, whether a case of liability was made out on the trial, under the peculiar provisions of the statute of Illinois on the subject. This statute makes promissory notes assignable by indorsement in writing, so as to vest the legal interest in the assignee; but the liability of the assignor is not absolute, but conditional. He agrees to pay the note, if the assignee, by the exercise of due diligence, prosecutes the'…
2Cited by4 opinions
- United States v. BayaudU.S. Circuit Court for the District of Southern New York · 1883
- Holland v. MartinMassachusetts Supreme Judicial Court · 1877
- United States v. HillCourt of Appeals for the Second Circuit · 1929
- State v. MillerSupreme Court of Louisiana · 1930