O'Fallon v. Kerr
Supreme Court of Missouri
ERROR, to St. Louis Court of Common Pleas. 1st The note being a common note, not negotiable, payable at no particular day, but on demand, ao action could arise upon it, until demand made. 2nd. As between the makers and the payee, the credit may be indefinite, without impairing the obligation to pay; and the contract of the assignor is only accessory to, and consequential upon the note, and must follow its nature, and share its fate. 3rd.
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ERROR, to St. Louis Court of Common Pleas. 1st The note being a common note, not negotiable, payable at no particular day, but on demand, ao action could arise upon it, until demand made. 2nd. As between the makers and the payee, the credit may be indefinite, without impairing the obligation to pay; and the contract of the assignor is only accessory to, and consequential upon the note, and must follow its nature, and share its fate. 3rd. The assignment in this case, (the object and design of it being fully explained in the testimony,) is a mere security for the debt; and a security is not…
1Opinion of the Court
Napton, J.,
delivered, the opinion of the Court:
This was an action of assumpsit brought by Delaney in his life time against Matthew Kerr, upon the following note:
“$2080 01. St. Louis, August 17, 1842. On demand we promise to-, pay to M. Kerr or order, two thousand and eighty dollars and one cent, without defalcation or discount, and for value received, with interest from date at the rate of ten per cent per annum. J. & A. Kerr.” It was assigned in the following- words-: “Pay to D. Delaney. Matthew. Kerr.”
On the trial the plaintiff proved a demand upon Beverly Allen, theassignee of Augustus…
2Cited by4 opinions
- Bailey v. SmockSupreme Court of Missouri · 1875
- Stone v. CorbettSupreme Court of Missouri · 1855
- Apitz v. Missouri Pacific Ry. Co.Missouri Court of Appeals · 1885
- Baker v. BladesSupreme Court of Missouri · 1856