Hedges v. Shipp

The question presented on this appeal is whether or not certain notes belonging to M. M. Hedges on the 10th of January, 1929, were lawfully subject to assessment for taxation ad valorem in Hamilton County. The stipulated form of the notes in the record shows that they were each negotiable instruments, being (1) in writing and signed by the makers, (2) an unconditional promise to pay, (3) payable on demand and (4) payable to order, (Acts of 1899, Chap. 94, Code 1932, ¡Sec. 7325.) These notes were loans on call, that is, on demand, made in the City of New York for Hedges and from his funds…