Townsend v. Carpenter
Ohio Supreme Court
This is a bill i-n chancery, from the county of Fairfield. The bill is.filed -'by the assignee of a note, not negotiable, against the assignor.and maker,-setting up, in avoidance of the right of set-off by the maker, a promise to pay, made by the maker to the assignee, after notice of the assignment.
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This is a bill i-n chancery, from the county of Fairfield. The bill is.filed -'by the assignee of a note, not negotiable, against the assignor.and maker,-setting up, in avoidance of the right of set-off by the maker, a promise to pay, made by the maker to the assignee, after notice of the assignment. The bill charges that on January 7, 1839, Paul made this note to Gabriel Carpenter, for $1,500. That on the same day, Gabriel indorsed it to the plaintiff, oi which fact Paul, at the time, had notice from the complainant. That at the time of the assignment Paul had no demand against Gabriel which…
1Opinion of the CourtGrimke, J.
The first and principal question to be decided is, whether an assignee of a note has a right to maintain a suit in this court. The note is not negotiable; the consequence is that an assignment of it does not transfer the legal, but only the equitable interest in it. This is obvious from the fact that the assignee, if he does sue at law, is compelled to make use of the name of the assignor. Notwithstanding the assignments, the legal interest remains in the assignor; and as he alone who has the legal interest in the subject matter can maintain a suit, the action, although it is brought for the…
2Cases cited1 opinion
- Nalle's Representatives v. FenwickCourt of Appeals of Virginia · 1826
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