Fowler v. Strickland
Massachusetts Supreme Judicial Court
Contract, brought January 11, 1870, on a promissory note for $2000, dated August 2, 1869, signed by the defendants, and payable to the plaintiff or order in four months from date. The declaration was in the usual form of an action by payee against maker.
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Contract, brought January 11, 1870, on a promissory note for $2000, dated August 2, 1869, signed by the defendants, and payable to the plaintiff or order in four months from date. The declaration was in the usual form of an action by payee against maker. At the trial in the superior court, before Pitman, J., “ it appeared in evidence that the note was an accommodation note; that the plaintiff indorsed it in blank as accommodation indorser, at the request and for the accommodation of the defendants, for the purpose of borrowing money for their use ; and that, before the note became due, the…
1Opinion of the Court
Gray, J
The note sued on being an accommodation note, and the action between the original parties, the consideration was d mbtless open to inquiry. But the note was made for the accommodation of the defendants, the makers; not of the plaintiff, the payee and indorser. The defendants, upon negotiating to Loomis the note thus indorsed by the plaintiff for their accommodation, received from Loomis the whole amount of the note, and were responsible to an equal amount in an action on the note by Loomis or any lawful holder. The plaintiff had the same right as any other person to purchase the note…
2Cases cited1 opinion
- Pinney v. McGregoryMassachusetts Supreme Judicial Court · 1869
3Cited by10 opinions
- Dresser v. Missouri & Iowa Railway Construction Co.Supreme Court of the United States · 1876
- Wade v. Chicago, Springfield & St. Louis RailroadSupreme Court of the United States · 1893
- Raycroft v. TayntorSupreme Court of Vermont · 1896
- Merchants Discount Co. v. Federal Street Corp.Massachusetts Supreme Judicial Court · 1938
- A. C. Petri & Bro. v. First National BankTexas Supreme Court · 1892
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