Smith v. Hiscock
Supreme Judicial Court of Maine
Exceptions from the Court of Common Pleas, Smith J. presiding. Assumpsit by the plaintiff, as indorsee, against the defendant, as promissor of a note of hand given to one Russ, or order, and by him indorsed, dated April 16, 1833, for $833,33, payable in Jan. 1835, with interest after. In September, 1834, the note was indorsed and placed in the hands of Bachelder, a deputy sheriff, as security for a demand of about $500, in his hands against Russ.
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Exceptions from the Court of Common Pleas, Smith J. presiding. Assumpsit by the plaintiff, as indorsee, against the defendant, as promissor of a note of hand given to one Russ, or order, and by him indorsed, dated April 16, 1833, for $833,33, payable in Jan. 1835, with interest after. In September, 1834, the note was indorsed and placed in the hands of Bachelder, a deputy sheriff, as security for a demand of about $500, in his hands against Russ. Bachelder was authorized by Russ to make sale of the note to pay the demand, if not otherwise paid. In December, 1834, Bach-elder shew the note to…
1Opinion of the Court
After a continuance, the opinion of the Court was drawn up by
Weston C. J.
If the note, upon which this action was brought, being negotiable, had been indorsed bona fide before it was due, the want of consideration is not an available defence, against a subsequent holder, to whom it may have been passed, after it was due. Bayley on Bills, 349, and the cases there cited. The promise is good to the first indorsee, free from that objection, and the power of transferring it to others, with the same immunity, is incident to the legal right, which he had acquired in the instrument. By the first…
2Cited by6 opinions
- Hereth v. Merchants' National BankIndiana Supreme Court · 1870
- Thomas v. RuddellIndiana Supreme Court · 1879
- Hill v. WardIndiana Court of Appeals · 1910
- Woollen v. BankerU.S. Circuit Court for the District of Southern Ohio · 1877
- Very v. RussellSupreme Court of New Hampshire · 1874
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