Smith v. Marland
Supreme Court of Iowa
Appeal from Polk Circuit Court. The plaintiff brings this action as indorsee of an instrument in writing purporting to be signed by the defendant, as follows: “$179.00. Des Moines, Iowa,' Nov. 15,1879. “On or before the 15th day of November, 1879, for value received in corn grinder and crusher, I, the subscriber, of Beaver township, Polk county, Iowa, promise to pay to the order of II.
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Appeal from Polk Circuit Court. The plaintiff brings this action as indorsee of an instrument in writing purporting to be signed by the defendant, as follows: “$179.00. Des Moines, Iowa,' Nov. 15,1879. “On or before the 15th day of November, 1879, for value received in corn grinder and crusher, I, the subscriber, of Beaver township, Polk county, Iowa, promise to pay to the order of II. Holden or bearer, $170, at Des Moines, Iowa, with ten per cent interest per annum from date, until paid, together with reasonable attorney’s or collector’s fees, if collected by suit or otherwise after due. And…
1Opinion of the CourtDay, J.
We need not determine whether the matters set up in the answer would avail against the bonco fide holder for value of a negotiable promissory note. In our opinion the instrument sued upon in this case is. not a negotiable promissory note. The qualities essential to a negotiable promissory note are that it shall possess certainity as to the payor the payee, the amount, the time of payment and the place of payment. 1 Parsons on Notes and Bills, page 30.
Respecting the certainty as to the amount the following language is employed: “There should be entire certainty and precision as to the amount…
2Cited by15 opinions
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