Ridgway & Budd v. Day
Supreme Court of Pennsylvania
Error to the Common Pleas of Montgomery county. This was an action brought by Thomas Ridgway and Henry Budd, trading under the firm of Ridgway & Budd, plaintiffs in error, vs. Jacob Day, defendant in error.
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Error to the Common Pleas of Montgomery county. This was an action brought by Thomas Ridgway and Henry Budd, trading under the firm of Ridgway & Budd, plaintiffs in error, vs. Jacob Day, defendant in error. This action was founded on a promissory note, drawn by Samuel W. Day, in favor of Jacob Day, and by him indorsed to the plaintiffs, dated March 15, 1845, at 60 days, for $1,000, payable at the bank of Montgomery county, and on the subsequent agreement and promises of the defendant to continue his liability and extend the time for the payment of the note. The note was in the following form:…
1Opinion of the Court
The opinion of the court was delivered by
Coulter, J.
An indorser is entitled to notice of protest and non-payment of a negotiable note; because the contract is that the maker will pay at maturity; and the strict punctuality which is the life of the commercial law, authorizes the indorser to presume that he has paid, in the absence of any notice to the contrary. But the right to receive notice, in order to make him liable, like any other right, may be waived by the indorser: Story on promissory notes 314, Williams vs. Brobst, 10 Watts 111, Scott vs. Greer, 10 Barr 103, Clark vs. Develin, 3 Bos.…
2Cases cited1 opinion
- Williams v. BrobstSupreme Court of Pennsylvania · 1840
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