Sheppard v. Thomas
Supreme Court of Arkansas
Appeal from Jefferson Girouit Court. Hon. W. M. HaRRIson, Circuit Judge.' . The notes, which are the foundation of the claim in this case, were not negotiable by the law merchant, because, first, they were under seal; Walker v. Johnson, IS Ark., 5S7. Second, they were not for the payment of a certain sum of money, absolutely and unconditionally; Story' on Notes, sec. 1. A promise, which may he discharged in anything else but current money, is not negotiable, because a…
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Appeal from Jefferson Girouit Court. Hon. W. M. HaRRIson, Circuit Judge.' . The notes, which are the foundation of the claim in this case, were not negotiable by the law merchant, because, first, they were under seal; Walker v. Johnson, IS Ark., 5S7. Second, they were not for the payment of a certain sum of money, absolutely and unconditionally; Story' on Notes, sec. 1. A promise, which may he discharged in anything else but current money, is not negotiable, because a negotiable instrument by the commercial law is not a mere promise to pay, but is considered as the absolute representative of…
1Opinion of the CourtMcCluRe, C. J.
It appears from the record in this case that, on the 25th of January, 1860, Payne and Robinson executed and delivered to James Sheppard a deed that recites:
“That in consideration of the sum of thirty thousand dollars» in hand paid, and the further sum of eighty-six thousand, one hundred and forty dollars to be paid us (them) by the said James Sheppard in five equal annual installments * * * * do hereby grant, bargain, sell and convey unto said Sheppard, the following described lands,, negroes and personal property, in the county of Jefferson and State of Arkansas.”
The deed describes six…
2Cited by3 opinions
- Ober v. GallagherSupreme Court of the United States · 1876
- Powers v. JohnsonCourt of Appeals for the Eighth Circuit · 1934
- Terry v. TaylorSupreme Court of Arkansas · 1920