Mechanics' Bank v. Hallowell
Supreme Judicial Court of Maine
On facts agreed. Assumpsit. The note declared on was as follows :— "Bangor, August 24, 1859. "For value received, we jointly and severally promise to pay B. D. Peck, or order, two thousand dollars, in four months, at Suffolk Bank, Boston. "A. E. Hallowell, "$2000. "Geo. E. Smith.”' "P. N. P. Dec. 27th, 1859. "5912. "B. B. N. P. fee and postage, $2,03.” Indorsed by "B. D. Peck, and B. D. Peck, S. Tr.”
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On facts agreed. Assumpsit. The note declared on was as follows :— "Bangor, August 24, 1859. "For value received, we jointly and severally promise to pay B. D. Peck, or order, two thousand dollars, in four months, at Suffolk Bank, Boston. "A. E. Hallowell, "$2000. "Geo. E. Smith.”' "P. N. P. Dec. 27th, 1859. "5912. "B. B. N. P. fee and postage, $2,03.” Indorsed by "B. D. Peck, and B. D. Peck, S. Tr.” The note was in fact given for accommodation of B. D. Peck, of which the plaintiffs were not conusant. It was discounted by the plaintiffs, Sept. 24, 1859, at the request of Peck, who was…
1Opinion of the Court
The opinion of a majority of the Court was drawn by
Appleton, C. J.
The note in suit is payable to B. D., Peck or order, and by him indorsed. The fact that, after his individual indorsement, is to be found on the note an indorsement by him, as Treasurer, in no way affects the right of the plaintiffs to recover. The bank may have failed to obtain the security of the State by such indorsement, but that affords no defence to the makers of the note, or prevents the title thereto vesting in the plaintiffs.
" The moneys of the State” are entrusted to its Treasurer for safe keeping, but, though he…
2Cases cited1 opinion
- Scrantom v. . the Farmers' and Mechanics' Bk. of RochesterNew York Court of Appeals · 1862
3Cited by1 opinion
- Gartley v. People ex rel. Pueblo CountySupreme Court of Colorado · 1897