Moore v. Baird
Supreme Court of Pennsylvania
Error to the District Court of Philadelphia. This was an action of assumpsit, by Henry C. Baird against John W. Moore, to recover the amount of the defendant’s promissory note for $371.46, dated the 28th March 1857, .and payable four months after date to the order of William White Smith, who endorsed it to the plaintiff.
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Error to the District Court of Philadelphia. This was an action of assumpsit, by Henry C. Baird against John W. Moore, to recover the amount of the defendant’s promissory note for $371.46, dated the 28th March 1857, .and payable four months after date to the order of William White Smith, who endorsed it to the plaintiff. The plaintiff filed a copy of the note; and the defendant put in the following affidavit of defence :— “John W. Moore, the defendant above named, being duly affirmed, says, that he has a good defence to part of the claim of the plaintiff in this suit of the character…
1Opinion of the Court
The opinion of the court was delivered by
Strong, J.
— He, who lends his own promissory note for the *139accommodation of another, lends his credit without any restriction as to the manner of its use. As between the maker and the payee there is an available defence, but the maker connot complain of a subsequent holder when called upon to perform all he has promised. An endorsee, though he received it as collateral security, and is not therefore a holder for value, may recover the ■full amount of the note: Lord v. Ocean Bank, 8 Harris 384; and a holder for value may recover, though he knew, at the…
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