Meredith v. Salmon
Supreme Court of Virginia
This was a suit in equity in the Hustings court of the city of Richmond, by ¥m. L. Salmon against John A. Meredith, Mary L. Meredith and her children, asking the court to fix the amount the plaintiff should pay in discharge of a bond of $5,000, which was one of five given by him in June 1863, for the purchase money of a tract of land which he purchased of S. R. Fondren.
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This was a suit in equity in the Hustings court of the city of Richmond, by ¥m. L. Salmon against John A. Meredith, Mary L. Meredith and her children, asking the court to fix the amount the plaintiff should pay in discharge of a bond of $5,000, which was one of five given by him in June 1863, for the purchase money of a tract of land which he purchased of S. R. Fondren. The plaintiff insisted that the contract for the land was made with reference to Confederate currency as the standard of value; and that by agreement with Fondren at the time, he was entitled to pay off the bonds at any time…
1Opinion of the CourtStaples, J.
Although the bond in controversy is in the possession of a bona fide purchaser, the obligor may, notwithstanding, make any defence here he could have made in an action by the obligee. The purchaser holds the bond subject to every infirmity of consideration—to all the equities attaching to the instrument in the hands of the party to whom it was executed. The only question then to be considered is, what did the parties mean by the words “current funds,” used in the several obligations executed by the vendee % Did they intend to provide for payment of the debt in the money current, whatever it…
2Cases cited4 opinions
- Spokane Truck & Dray Co. v. HoeferWashington Supreme Court · 1891
- Ritchie v. MetcalfeWashington Supreme Court · 1890
- Boulware v. NewtonSupreme Court of Virginia · 1868
- Bogle, Somerville, & Co. v. VowlesCourt of Appeals of Virginia · 1798