Walker v. Bank of New-York
New York Supreme Court
This was an action to recover the amount of three bills of exchange, on the ground that the defendants as agents of the plaintiffs, the holders of the bills, neglected to give notice of non-acccptance. The bills were discounted by the plaintiffs in regular course of business, and forwarded to the defendants, their correspondents in New-York, for collection, The drawee resided there.
Read the full summary
This was an action to recover the amount of three bills of exchange, on the ground that the defendants as agents of the plaintiffs, the holders of the bills, neglected to give notice of non-acccptance. The bills were discounted by the plaintiffs in regular course of business, and forwarded to the defendants, their correspondents in New-York, for collection, The drawee resided there. The following is" a copy of one of the bills: “$5000. Utica, January 20, 1851. Five months after date pay to the order of Fredk. Hollister, five thousand dollars value received, and charge the same to the account…
1Opinion of the Court
By the Court, Hubbard, J.
The only question presented is whether Hamilton, the drawee, can be charged as acceptor. If he cannot, the defendants’ liability is undisputed, because of their neglect to give notice of dishonor.
It is an undoubted rule that an acceptance dispensing with notice, must be absolute according to the tenor of the bill; not qualified, or varying in any material particular. (Story on Bills, § 240, and cases cited in note 2. Chitty on Bills, 329.) The obvious reason is, that antecedent parties, if made liable, are entitled to full recourse against the acceptor, which they…
2Cases cited1 opinion
- Long v. ColburnMassachusetts Supreme Judicial Court · 1814
3Cited by6 opinions
- Troy City Bank v. . LaumanNew York Court of Appeals · 1859
- Lawless v. TempleMassachusetts Supreme Judicial Court · 1926
- Niagara District Bank v. Fairman & Willard Machine Tool Manufacturing Co.New York Supreme Court · 1860
- Shuler v. GilletteNew York Supreme Court · 1877
- Troy City Bank v. LaumanNew York Court of Appeals · 1859
1 more not listed; retrieve them via the Exa API.