Fahnestock v. Schoyer
Supreme Court of Pennsylvania
ERROR to the court of common pleas of Allegheny county. Solomon Schoyer against Benjamin A. Fahnestock & Company. On-the 15th of April 1837, Brewster, Newton & Spencer drew a bill, payable to bearer, on Benjamin A. Fahnestock & Co., for 350 dollars worth of dye stuffs, which was accepted by Benjamin A. Fahnestock & Co. Brewster, one of the drawers, testified on the trial, that he drew the bill, and went to the counting-house of the defendants, and told them that “ he wanted…
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ERROR to the court of common pleas of Allegheny county. Solomon Schoyer against Benjamin A. Fahnestock & Company. On-the 15th of April 1837, Brewster, Newton & Spencer drew a bill, payable to bearer, on Benjamin A. Fahnestock & Co., for 350 dollars worth of dye stuffs, which was accepted by Benjamin A. Fahnestock & Co. Brewster, one of the drawers, testified on the trial, that he drew the bill, and went to the counting-house of the defendants, and told them that “ he wanted them to accept the bill on its face; that he wanted to pass it away in a business transaction;” whereupon they wrote…
1Per curiam
No contract, which is not negotiable by the statute of Anne, or the common law, can be sued in the name of a transferree: such is an admitted principle of the common law. What peculiar feature is there in this case to distinguish it? It is admitted, that the order is not negotiable as a bill of exchange; but it was accepted before it was passed to the holder, who may have taken it on the credit of the acceptance. There was, however, no privity of contract between him and the defendant; and how can he maintain an action of assumpsit without it? The acceptance was a special agreement in the…
2Cases cited2 opinions
- Lawrason v. MasonSupreme Court of the United States · 1806
- M'Doal v. YeomansSupreme Court of Pennsylvania · 1839
3Cited by2 opinions
- Elkinton v. FennimoreSupreme Court of Pennsylvania · 1850
- Reading Industrial Manufacturing Co. v. GraeffSupreme Court of Pennsylvania · 1870