Holmes v. Preston
Mississippi Supreme Court
Prom the circuit court of Leflore county. Hon. R. W. Williamson, Judge. On September 17, 1891, Plash, Preston & Co., in New Orleans, La., drew a bill of exchange on T. C. Garrott, of Minter City, Miss., payable at the office of Chaffe, Powell & West, in New Orleans, December following. It was accepted by Garrott; and it seems that the appellant, Holmes, indorsed his name on the back thereof, but when, or for what consideration, does not appear.
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Prom the circuit court of Leflore county. Hon. R. W. Williamson, Judge. On September 17, 1891, Plash, Preston & Co., in New Orleans, La., drew a bill of exchange on T. C. Garrott, of Minter City, Miss., payable at the office of Chaffe, Powell & West, in New Orleans, December following. It was accepted by Garrott; and it seems that the appellant, Holmes, indorsed his name on the back thereof, but when, or for what consideration, does not appear. Appellees brought suit on the bill against Garrott, as acceptor, and Holmes, as indorser. The declaration alleges that Garrott was indebted to…
1Opinion of the Court
Cooper, J.,
delivered tlie opinion of the court.
While we Would have preferred the rule that the liability of an irregular indorser of a negotiable instrument was prima facie that of a co promisor with the party primarily bound, we are precluded from adopting it by former decisions of this court.
In the case of Thomas v. Jennings, 5 S. & M., 630, reported also on another appeal in Jennings v. Thomas, 7 S. & M., 617, *155the rule was declared that the liability of such party was determinable by the nature of the transaction, which must be proved by evidence other than that afforded by the instrument…
2Cases cited1 opinion
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- Richardson v. FosterMississippi Supreme Court · 1895
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