First National Bank v. Skeen
Supreme Court of Missouri
Appeal from Johnson Circuit Court. — TIon. Chas. W. Sloan, Judge.' This is an action upon a promissory note of the following tenor: “$417.00. Holden, Mo., July 7, 1884. “For value received, on or before the first day of September, 1885, the undersigned promise to pay to the order of the Springfield Engine and Thresher Company four hundred and seventeen dollars, payable at 'Farmers’ and Commercial Bank, Holden, Missouri, with interest at eight per cent, from date until due,…
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Appeal from Johnson Circuit Court. — TIon. Chas. W. Sloan, Judge.' This is an action upon a promissory note of the following tenor: “$417.00. Holden, Mo., July 7, 1884. “For value received, on or before the first day of September, 1885, the undersigned promise to pay to the order of the Springfield Engine and Thresher Company four hundred and seventeen dollars, payable at 'Farmers’ and Commercial Bank, Holden, Missouri, with interest at eight per cent, from date until due, and ten per cent, after due. J. T. Fanci-ier, “W. A. Skeen. - “Postoffice address, Holden, Missouri, county of Johnson.…
1Opinion of the CourtBarclay, J.
The trial court ruled that the note -in controversy was negotiable. This is a vital question in the case and will be first considered.
The objection to its negotiability rests on the úse of the words, “on or before the first day of September, 1885,” in connection with the promise to pay. It is claimed that such language makes the time of payment uncertain and hence destroys its negotiable character.
The law governing such paper is the outgrowth of the usages of commerce. In determining disputed questions in its application it is often useful to recur to the objects and purposes of the law and…
2Cases cited1 opinion
- Chouteau v. AllenSupreme Court of Missouri · 1879
3Cited by9 opinions
- City National Bank v. Goodloe-McClelland Commission Co.Missouri Court of Appeals · 1902
- Russell v. WyantMissouri Court of Appeals · 1923
- Maze v. BairdMissouri Court of Appeals · 1901
- First State Bank v. HammondMissouri Court of Appeals · 1904
- Roads v. WebbSupreme Judicial Court of Maine · 1898
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