Callahan v. Bank of Kentucky
Court of Appeals of Kentucky
Case 37 — BILLS OB EXCHANGE APPEAL FROM LOUISVILLE CHANCERY .COURT. An accommodation indorser of commercial paper, to be held liable-thereon, must be given due notice, if it dishonor and protest; and a notice to one,to whom such indorser has made an assignment of the larger portion of his estate ior the benefit of his creditors, will not bind the indorser. (Parson Contracts, volume 1, 277; 5 Leigh, 54; 1 Smith’s Leading Cas> s, 73; Daniel Nego.
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Case 37 — BILLS OB EXCHANGE APPEAL FROM LOUISVILLE CHANCERY .COURT. An accommodation indorser of commercial paper, to be held liable-thereon, must be given due notice, if it dishonor and protest; and a notice to one,to whom such indorser has made an assignment of the larger portion of his estate ior the benefit of his creditors, will not bind the indorser. (Parson Contracts, volume 1, 277; 5 Leigh, 54; 1 Smith’s Leading Cas> s, 73; Daniel Nego. Inst., sections 970, 972; Law Kep, 1 Eq., 5; 3 Kent’s Comm, 110,; Parson’s Bills and Notes, 629 7 Manning; Granger & Scott. 400; 11 East, 114; 4…
1Opinion of the Court
JUDGE HOLT
delivered the opinion oe the court.
The firm of W. L. Weller & Son, on November 15, 1877, executed a note for $3,500, payable to the order ■of James Callahan, at the Bank of Kentucky, four months thereafter. The latter indorsed it in blank and delivered it to said W. L. Weller, who also indorsed it in blank, and discounted it to the appellee before its maturity, thereby putting it upon the footing of a foreign bill of exchange.
The proceeds were drawn out of the bank by W. L. Weller, but for the use of said firm — in fact the entire transaction was for its benefit, Callahan being…
2Cases cited3 opinions
- Fassin v. . HubbardNew York Court of Appeals · 1874
- Long v. Bank of CynthianaCourt of Appeals of Kentucky · 1822
- Callahan v. First National BankCourt of Appeals of Kentucky · 1880
3Cited by6 opinions
- Davis v. CaricoCourt of Appeals of Kentucky (pre-1976) · 1937
- Hollon v. Weatherford's AdministratorCourt of Appeals of Kentucky (pre-1976) · 1935
- Moreland's Admr. v. Citizens' National BankCourt of Appeals of Kentucky · 1903
- Dean v. ReedCourt of Appeals of Kentucky · 1924
- Rock Island Plow Co. v. BaldersonSouth Dakota Supreme Court · 1910
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