Eaton v. McMahon
Wisconsin Supreme Court
APPEAL from the Circuit Court for Manitowoc County. Action by the plaintiff as indorsee and holder of a promissory note, dated at Manitowoc, October 2, 1874, and payable one year after date, made by one Philip Hamilton to' the defendant, and by him indorsed in blank to the plaintiff before maturity.
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APPEAL from the Circuit Court for Manitowoc County. Action by the plaintiff as indorsee and holder of a promissory note, dated at Manitowoc, October 2, 1874, and payable one year after date, made by one Philip Hamilton to' the defendant, and by him indorsed in blank to the plaintiff before maturity. The complaint is in the form usual in such actions, except that it contains the following averments excusing a failure to present the note to the maker for payment at mat-urity: “ And said plaintiff further says that at the maturity of said note he made due search and inquiry at Manitowoc…
1Opinion of the CourtLyoN, J.
The implied contract of an indorser in blank of a promissory note payable generally, is, that he will pay the note to the holder if the maker fails to do so, provided the note at maturity is duly presented to the maker for payment, and due notice of nonpayment is given to the indorser. Under certain circumstances, however, the failure so to present the note for payment will not release the indorser from lia-' bility, if he have proper notice that the note is unpaid. If, in *487the exercise of due diligence, tbe bolder is unable to find tbe maker or ascertain bis place of residence, or if tbe…
2Cases cited1 opinion
- Murdock v. ArndtWisconsin Supreme Court · 1839
3Cited by5 opinions
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