Van Wart v. Smith
New York Supreme Court
This cause came before the court upon a case agreed upon between the parties, containing the following facts The plaintiff residing at Birmingham, in England, received there, on the 1st July, 1818, from the defendants and William Irving, deceased, then being co-partners in trade, residing at New-York, and transacting business under the firm of Irving, Smith and Holly, and being the correspondents of the plaintiff a bill of exchange for ¿£600 sterling, dated 6th June, 1818,…
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This cause came before the court upon a case agreed upon between the parties, containing the following facts The plaintiff residing at Birmingham, in England, received there, on the 1st July, 1818, from the defendants and William Irving, deceased, then being co-partners in trade, residing at New-York, and transacting business under the firm of Irving, Smith and Holly, and being the correspondents of the plaintiff a bill of exchange for ¿£600 sterling, dated 6th June, 1818, drawn by Alexander Cranston & Co. upon Greg, Lindsay & Co. in London, and payable sixty days after sight, to the order of…
1Opinion of the Court
By the Court,
Woodworth, J.
I think it is well settled that the defendants not having indorsed the bill, are not, by the law merchant, entitled to notice of its dishonor. (5 Maul. & Selw. 52.)
*226It appears to me the plaintiff did not receive the bill as absolute payment. In Owenson v. Morse, (7 D. & E. 64,) it was held, that if the seller of goods tabes notes' or bills for them, without agreeing to run the risk of the notes being paid, and the notes turn out to be worth nothing, this will not be considered as payment. From the nature of the transaction, no such liability could have been within the…
2Cited by5 opinions
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