McCartney v. Administrators of Smalley
Supreme Court of Iowa
Appeal from Madison District Court, The note sued on was assigned to plaintiff before due and is as follows: $1000. On or before the 20th day of September A. D, 185'8, for value received, I promise to pay to F. R. Smalley or bearer, one thousand dollars in lumber at the market value, to be delivered at the saw mill heretofore known as Game & Smalley’s Mill. September 1st 1856. Wm F. Troutman.
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Appeal from Madison District Court, The note sued on was assigned to plaintiff before due and is as follows: $1000. On or before the 20th day of September A. D, 185'8, for value received, I promise to pay to F. R. Smalley or bearer, one thousand dollars in lumber at the market value, to be delivered at the saw mill heretofore known as Game & Smalley’s Mill. September 1st 1856. Wm F. Troutman. On tbe trial it appeared that the note was presented for payment to the maker on the 20th day of September 1858, and notice of non-payment duly given to the administrators of the indorser on the same…
1Opinion of the CourtWright, J.
This was not a negotiable note in such a sense that according to the law merchant, the maker was entitled to three days of grace. It was not thus negotiable certainly at common law, and in this respect our Code has made no change. The act of 1853, (Section 3, ch. 108, p. 188,) applies to notes and bills as defined and understood in the commercial law, and not to notes payable in property or anything else than money, and which last instruments are by our law assignable and may be negotiable according to their tenor and effect. If payable in any thing else than money they have all the incidents…
2Cases cited2 opinions
- Bean v. BriggsSupreme Court of Iowa · 1855
- Peddicord & Wyman v. WhittamSupreme Court of Iowa · 1859
3Cited by1 opinion
- Culbertson v. NelsonSupreme Court of Iowa · 1895