Bank of Illinois v. Sloo
Supreme Court of Louisiana
APPEAL FROM THE COURT OF THE FIRST JUDICIAL DISTRICT. This is an action by the plaintiffs as the holders of ten bills of exchange, drawn by A. G. Sloó & Co., on the defendants, Sloo & Byrne, of New-Orleans, drawn and sold to the plaintiffs on the following letter of credit, written by the drawees to the plaintiffs. “New-Orleans, 23d December, 1836.” “Messrs.
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APPEAL FROM THE COURT OF THE FIRST JUDICIAL DISTRICT. This is an action by the plaintiffs as the holders of ten bills of exchange, drawn by A. G. Sloó & Co., on the defendants, Sloo & Byrne, of New-Orleans, drawn and sold to the plaintiffs on the following letter of credit, written by the drawees to the plaintiffs. “New-Orleans, 23d December, 1836.” “Messrs. A. G. Sloo & Co., of Alton, Illinois, are hereby authorized to value on us at such times, and for such sums as may suit their own convenience, to the extent of fifty thousand dollars. Their bills on us for that amount, negotiated through…
1Opinion of the CourtMartin, J.
This suit was instituted to recover the amount of ten bills of exchange, accepted by the defendants Sloo & Byrne, the payment of which was guarantied by the other defendants, Shields, Turner & Renshaw, and A. W. & R. M. Haines.
There was judgment against the acceptors, and for ihe other defendants. The acceptors and the plaintiffs appealed.
Acceptors of dra^m^on'fhcir addressed to ttie payees or pm-bills,^are absolute acceptors, tors. ■Where guarantorsreceive no notice of the £ic— ceptanee of the l!e'varióus°l':uivinces made, or bills drawn on it until after their charged1,’by6 the holders or…
2Cases cited1 opinion
- Douglass and Others v. Reynolds and OthersSupreme Court of the United States · 1833
3Cited by5 opinions
- Hibernia Bank & Trust Co. v. Succession of CancienneSupreme Court of Louisiana · 1917
- Milroy v. QuinnIndiana Supreme Court · 1879
- Texas Co. v. HudsonSupreme Court of Louisiana · 1924
- Siben v. GreenLouisiana Court of Appeal · 1942
- Travelers Indemnity Co. v. DucoteLouisiana Court of Appeal · 1979