Smith v. Ashby
Supreme Court of Missouri
Error to Jackson Circuit Court. This was a suit by Smith, the assignee for value, against Ashby, the maker, upon the following note : “ Twelve months after date, I promise to pay John W. Moodie, or order, one hundred and seventy-one dollars and •fifty cents, for value received, without defalcation or discount. “Thos. T. Ashby.
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Error to Jackson Circuit Court. This was a suit by Smith, the assignee for value, against Ashby, the maker, upon the following note : “ Twelve months after date, I promise to pay John W. Moodie, or order, one hundred and seventy-one dollars and •fifty cents, for value received, without defalcation or discount. “Thos. T. Ashby. “November 15, 1849.” This note was by Moodie assigned to plaintiff in July, 1850. The defendant set up, as an off-set, a note for one hundred and eighty dollars, executed by Moodie to him on the 7th of August, 1850, before he had notice of the assignment. The offset was…
1Opinion of the CourtLeonard, Judge
The question in this case is, whether the third section of the third article of the code of procedure repeals so much of the third section of the statute concerning bonds and notes, as provides that the assignment of a note, expressed “ to be paid without defalcation or discount,” passes the instrument to the assignee, exempted from that defence.
There is no express repeal, and if repealed at all, it is because the provision of the code is inconsistent with the provision of the old law concerning bonds and notes. In order to come to a correct conclusion upon .this subject, it will be proper to…
2Cases cited1 opinion
- Leak v. ElliottSupreme Court of Missouri · 1836
3Cited by4 opinions
- Stansbury v. StansburyMissouri Court of Appeals · 1906
- Harvey v. St. Louis Butchers' Joint Stock & Benevolent Ass'nSupreme Court of Missouri · 1866
- Mitchell Planing Mill Co. v. ShortMissouri Court of Appeals · 1894
- Paston v. BussmeyerSupreme Court of Missouri · 1859