Smith v. Kendall
Michigan Supreme Court
Error to Kent Circuit, where Kendall, describing himself as assignee of Henry C. Ely, Edward Brown and William II. McConnell, brought suit against Alpheus G. Smith, Daniel McConnell and William H. McConnell, on the common money counts, under which he recovered judgment upon the following instrument; “$193.98. New York, July 13, 1858. Eight months after date, we, the subscribers, of Grand Rapids, county of Kent, State of Michigan, promise to pay to the order of Ely, Brown &…
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Error to Kent Circuit, where Kendall, describing himself as assignee of Henry C. Ely, Edward Brown and William II. McConnell, brought suit against Alpheus G. Smith, Daniel McConnell and William H. McConnell, on the common money counts, under which he recovered judgment upon the following instrument; “$193.98. New York, July 13, 1858. Eight months after date, we, the subscribers, of Grand Rapids, county of Kent, State of Michigan, promise to pay to the order of Ely, Brown & McConnell, seven hundred and ninety-three 98-100 dollars, at the Banking House of Duncan Sherman & Co., value received,…
1Opinion of the Court
Manning J.:
The instrument for $793.98, it is argued, is not a promissory note, because it is payable with current exchange on New York. It calls for $793.98, if paid in the city of New York; if paid elsewhere it calls for that amount with such additional sum, called exchange, as will make the amount where paid equivalent to $793.98 in the city of New York.
A promisory note must be for the payment of a certain sum of money. Exchange varies from time to time, and might have been more or less when the $793.98 were to be paid than when the instrument was given. Is this fluctuation, to which…
2Cases cited1 opinion
- Leggett v. JonesWisconsin Supreme Court · 1859
3Cited by4 opinions
- Seaton v. ScovillSupreme Court of Kansas · 1877
- First National Bank v. CarsonMichigan Supreme Court · 1886
- Fitzharris v. LeggattMissouri Court of Appeals · 1881
- Zeller v. HarrisCircuit Court of the 43rd Circuit of Michigan · 1870