Rice v. Stearns
Massachusetts Supreme Judicial Court
Assumpsit by the endorsee of a promissory note against the promisors. The note was originally made payable to Jonathan Symonds, or his order, who endorsed it to the plaintiff in these words: “For value received, I order the contents of this note to be void to Merrick Rice, at his own rislc.” Upon the trial, at the last April term, in this county, before Sedgtvick, J., two of the defendants denied the signature of their names to the note.
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Assumpsit by the endorsee of a promissory note against the promisors. The note was originally made payable to Jonathan Symonds, or his order, who endorsed it to the plaintiff in these words: “For value received, I order the contents of this note to be void to Merrick Rice, at his own rislc.” Upon the trial, at the last April term, in this county, before Sedgtvick, J., two of the defendants denied the signature of their names to the note. The plaintiff thereupon offered Symonds, the promisee named in the note, to prove that he, as a deputy sheriff, having an execution in his possession against…
1Opinion of the Court
The Court took time for advisement, and afterwards their opinion was delivered as follows, by
Parsons, C. J.
The interest of Symonds must depend on the effect of his endorsement.
A security, negotiable in its creation, must, during its negotiation, preserve its negotiable quality; otherwise, when assigned, the assignee would hold a contract by the assignment different from the contract assigned. It is for this reason settled, that a negotiable note endorsed in blank, or by a * direction to pay the [ * 227 ] contents to A. B., omitting the words, “or his order” is further negotiable by the holder…
2Cited by21 opinions
- Evans v. Freeman.Supreme Court of North Carolina · 1906
- Mott v. HicksNew York Supreme Court · 1823
- Watson v. ChesireSupreme Court of Iowa · 1865
- Caldwell v. RoachWyoming Supreme Court · 1932
- Merchants National Bank v. BransonSupreme Court of North Carolina · 1914
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