Collins v. Lincoln
Supreme Court of Vermont
This was an action of assumpsit in favor of the plaintiffs, as indorsees of anote signed by the defendant and made payable to G. Johnson, or bearer, in one year from its date, in current bills. Plea, non assumpsit, and issue to the court. The county court decided that said note was negotiable, and rendered judgment thereon for the plaintiffs. To which the defendant excepted.
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This was an action of assumpsit in favor of the plaintiffs, as indorsees of anote signed by the defendant and made payable to G. Johnson, or bearer, in one year from its date, in current bills. Plea, non assumpsit, and issue to the court. The county court decided that said note was negotiable, and rendered judgment thereon for the plaintiffs. To which the defendant excepted. A note payable in current bills is not negotiable, and the plaintiffs cannot sustain an action in their own name, as indorsees. Stat. 144. McCormick v. Trotter, 10 Sarg. & Rawle’s R. 94. 3 Kent’s Com. 74. Jones v. Fales,…
1Opinion of the Court
The opinion of the court was delivered by
Bennett, J.
The statute law of this state provides, that the indorsee of any bill or note for the payment of money, negotiable in its terms, may maintain an action thereon in his own name. The note in question is payable in current bills, and can the suit be maintained in the name of the indorsees ? *269The term “current bills” is to be understood as meaning current bank bills, and in this sense we shall consider them. In the ordinary course of business, current bank bills, by a conventional arrangement in the community, and for the purposes of business,…
2Cases cited2 opinions
- Jones v. FalesMassachusetts Supreme Judicial Court · 1808
- Perry v. CoatesMassachusetts Supreme Judicial Court · 1813
3Cited by4 opinions
- Perry v. SmithSupreme Court of Vermont · 1850
- Downer v. TuckerSupreme Court of Vermont · 1858
- Heath ex rel. Heath v. StevensSupreme Court of New Hampshire · 1869
- Roberts v. SmithSupreme Court of Vermont · 1886