Booth v. Stores
Illinois Supreme Court
Appeal from the Superior Court of Cook county; the Hon. C. S. Zahe, Judge, presiding. This was an action of assumpsit, brought by Charles Storrs and Augustus Storrs against Alfred Booth, upon the indorsement of a promissory note.
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Appeal from the Superior Court of Cook county; the Hon. C. S. Zahe, Judge, presiding. This was an action of assumpsit, brought by Charles Storrs and Augustus Storrs against Alfred Booth, upon the indorsement of a promissory note. The note was made by Mason, Barnum & Co., dated May 13,1872, whereby the makers promised to pay Henry Booth, or order, the sum of $176.60, at the Manufacturers’ national Bank of Chicago, nine months after the date thereof, with interest at seven per cent per annum. Henry Booth indorsed the same to the plaintiffs. The declaration alleged the insolvency of the makers…
1Opinion of the CourtJustice Scott
The history of the note on which this action was brought is this: In 1869 the firm of C. A. & C. H. Barnum & Co. were indebted to plaintiffs, a mercantile firm in the city of Hew York. That firm having failed, a new firm was formed, composed of three of its members, under the name of Barnum, Mason & Co. The latter firm undertook to effect a compromise of the debts of the old firm. A written agreement was entered into between most of the creditors and the old'firm, in view of their insolvency., and in consideration that Barnum, Mason & Co. would make their promissory notes for fifty per cent…
2Cases cited1 opinion
- Ham v. GreveIndiana Supreme Court · 1870
3Cited by7 opinions
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- Selma Savings Bank v. HarlanSupreme Court of Iowa · 1914
- Putney v. SchmidtNew Mexico Supreme Court · 1911
- Bridges v. Miller Rubber Co.Court of Appeals of Maryland · 1926
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