Franklin Savings Institution v. Reed
Massachusetts Supreme Judicial Court
CONTRACT. Writ dated May 26, 1877. The declaration alleged that the defendant and Benjamin W. Reed made the following promissory note; that Robbins, the payee named therein indorsed the same to the plaintiff; and that the defendant owed the plaintiff the balance of said note and interest thereon: “ $2600. December 5th, 1870. For value received we jointly and severally promise to pay Edward A. Robbins or order twenty-six hundred dollars on demand, with interest annually at 7…
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CONTRACT. Writ dated May 26, 1877. The declaration alleged that the defendant and Benjamin W. Reed made the following promissory note; that Robbins, the payee named therein indorsed the same to the plaintiff; and that the defendant owed the plaintiff the balance of said note and interest thereon: “ $2600. December 5th, 1870. For value received we jointly and severally promise to pay Edward A. Robbins or order twenty-six hundred dollars on demand, with interest annually at 7 per cent., interest to commence April 1st, 1871. “ Benjamin W. Reed. “ John Reed, Surety. “ It is understood and agreed…
1Opinion of the CourtGray, C. J.
The memorandum written upon the note before its delivery was part of the contract; and by its manifest intention and legal effect neither Benjamin W. Reed, the principal, nor John Reed, who appeared on the face of the note to be a surety, was bound to pay the note until April 1,1881. Heywood v. Perrin, 10 Pick. 228. That the action was prematurely brought was rightly pleaded in bar. Benthall v. Hildreth, 2 Gray, 288. Ho claim to recover interest was made or ruled on at the trial, or can be asserted for the first time in this court.
Exceptions overruled.
2Cited by16 opinions
- White v. E. T. Slattery Co.Massachusetts Supreme Judicial Court · 1920
- Harding v. Broadway National BankMassachusetts Supreme Judicial Court · 1936
- Lombard v. McMillanWisconsin Supreme Court · 1897
- Waterhouse v. LevineMassachusetts Supreme Judicial Court · 1903
- People's State Bank v. SmithNebraska Supreme Court · 1930
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