Maddox v. Duncan
Supreme Court of Missouri
Appeal from Audrain Circuit Court. — Hon. E. M. Hughes, Judge. (1) The contract of indorsement is a new contract and is independent of the note and it is not an engagement with the maker. Edwards on Bills and Notes [3 Ed.], see. 383; 2 Am. and Eng. Ency. of Law, 385; Beach on Modern Law of Contracts, sec. 605; Tiedeman Com. Paper, sec. 256; JDunnigan v. Stevens, 122111. 396; Bowers v. Bank, 58 111. App. 498; Ferguson v. Staples, 82 Me. 159; Trabue v. Short, 18 La.
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Appeal from Audrain Circuit Court. — Hon. E. M. Hughes, Judge. (1) The contract of indorsement is a new contract and is independent of the note and it is not an engagement with the maker. Edwards on Bills and Notes [3 Ed.], see. 383; 2 Am. and Eng. Ency. of Law, 385; Beach on Modern Law of Contracts, sec. 605; Tiedeman Com. Paper, sec. 256; JDunnigan v. Stevens, 122111. 396; Bowers v. Bank, 58 111. App. 498; Ferguson v. Staples, 82 Me. 159; Trabue v. Short, 18 La. Ann. 257; Lee v. Sellech, 33 N. T. 615; Trimble v. Thorn, 16 Johns. 152; Bank v. Caverly, 7 Grray, 217. (2) The contract of…
1Opinion of the CourtBurgess, J.
On June 1, 1877, James T. Carter executed his note to the defendant for the sum of $2,000 due three years after date with interest at the rate of ten per cent per annum compounded annually. Thereafter defendant, by the following indorsement, assigned said note to Samuel Grant: “Waiving notice and protest and demand, I assign the within note to Samuel Grant for value received and I guarantee the payment of it. August 8, 1877. M. G. Duncan.” Grant assigned the note to plaintiff about June 1,1891.
The petition was in two counts. The first count was an action against the defendant as indorser, and…
2Cases cited16 opinions
- Municipality No. 2 v. Orleans Cotton PressSupreme Court of Louisiana · 1841
- Ross v. JonesSupreme Court of the United States · 1875
- Hunt v. StandartIndiana Supreme Court · 1860
- Graham v. RingoSupreme Court of Missouri · 1878
- Trimble v. ThorneNew York Supreme Court · 1819
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3Cited by25 opinions
- Home Trust Co. v. JosephsonSupreme Court of Missouri · 1936
- Hill v. CombsMissouri Court of Appeals · 1902
- State ex rel. Jackson v. BradleySupreme Court of Missouri · 1906
- Broadway Bank & Trust Co. v. LongleySupreme Court of Connecticut · 1933
- Keller v. Home Life InsuranceMissouri Court of Appeals · 1902
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