Farmers & Mechanics' Bank v. Hathaway
Supreme Court of Vermont
Assumpsit upon the following promissory note: $150. For value received we promise to pay the Farmers & Mechanics’ Bank one hundred and fifty dollars, ninety days from date, with use. Isaac C. Osgood, F. B. Hathaway. Burlington, August 1st, 1860. Plea, general issue and special notice. Trial by jury, April Term, 1863, Pierpoint, J., presiding. The plaintiff gave in evidence the note declared on.
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Assumpsit upon the following promissory note: $150. For value received we promise to pay the Farmers & Mechanics’ Bank one hundred and fifty dollars, ninety days from date, with use. Isaac C. Osgood, F. B. Hathaway. Burlington, August 1st, 1860. Plea, general issue and special notice. Trial by jury, April Term, 1863, Pierpoint, J., presiding. The plaintiff gave in evidence the note declared on. The defendant gave evidence tending to show that one Osgood, the first signer of the note, was indebted to him in the sum of $125., and procured him to sign this note upon an agreement that Osgood…
1Opinion of the CourtBarrett, J.
The defendant signed the note in question as surety of Osgood, the principal, payable to the plaintiff Bank, and not negotiable — in the common form of a note designed for discount in ordinary course of obtaining a loan from the Bank. He did it under an agreement with Osgood, that lie-, Osgood, was to get the money on it, and pay over $125. to the defendant on a debt which Osgood was owing him, and retain the balance.
Osgood went to the Bank with the note, but the Bank declined to discount it. Whereupon, on leaving the Bank, he met Adams, and then informed him of ,his having the note, and his…
2Cases cited2 opinions
- Bank of Middlebury v. BinghamSupreme Court of Vermont · 1861
- Bank of St. Albans v. SmithSupreme Court of Vermont · 1858
3Cited by3 opinions
- Quinn v. HardSupreme Court of Vermont · 1871
- Harrington v. WrightSupreme Court of Vermont · 1876
- American Exchange National Bank v. UlmMontana Supreme Court · 1898