Chicopee Bank v. Philadelphia Bank
Supreme Court of the United States
This was a suit by the Seventh National Bank of Philadelphia-against the Chicopee Bank of Springfield, Massachusetts, founded upon the allegation, that by reason of the neglect of the latter bank, the former lost its remedy against the prior parties on a bill of exchange, to wit, the drawer and payee.
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This was a suit by the Seventh National Bank of Philadelphia-against the Chicopee Bank of Springfield, Massachusetts, founded upon the allegation, that by reason of the neglect of the latter bank, the former lost its remedy against the prior parties on a bill of exchange, to wit, the drawer and payee. The bill was drawn by one Coglin, of Philadelphia, on' Montague,.of Springfield, payable to one Rhodes, of Philadelphia, for $10,000, and accepted" by Montague specially payable at the Chicopee Bank. The day of payment was Saturday, February 18th, 1865. Qu the 18th, Rhodes, the holder, indorsed…
1Opinion of the CourtJustice Nelson
The case was put to the jury, whether or not the loss of the-bill, and consequent inability of the collection bank to take the proper steps against the acceptors to charge the prior parties, was attributable to negligence, and want of care on the part of the- Chicopee Bank, and that, if it was, the bank was responsible. The jury found for the plaintiffs.
In cases' where ;the drawee accepts the bill, generally, in order to charge the drawer or indorser, the holder must present tfie paper, when due, at his place of business, if he has one, if not, a£ his dwelling or residence, aud demand…
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