Byram v. Hunter
Supreme Judicial Court of Maine
On Report from Nisi Prius, Rice, J., presiding. Assumpsit. The Kennebec Log Driving Company are a corporation. They voted “ that John P. Hunter be paid two hundred dollars in full for all claims he may have upon the company.” Hunter drew a draft upon the company, as follows; — "Please pay to E. G. Byram or order two hundred dollars, the same being in compliance with a vote of the company.”
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On Report from Nisi Prius, Rice, J., presiding. Assumpsit. The Kennebec Log Driving Company are a corporation. They voted “ that John P. Hunter be paid two hundred dollars in full for all claims he may have upon the company.” Hunter drew a draft upon the company, as follows; — "Please pay to E. G. Byram or order two hundred dollars, the same being in compliance with a vote of the company.” This action is brought upon that draft, the same having been indorsed by the payee to the plaintiff. The indorser was called as a witness by the plaintiff, and testified that, while the draft was in his…
1Opinion of the Court
Howard, J. —
It is essential to a bill of exchange, that it should be payable in money, absolutely, and without any contingency which would embarrass its circulation. Contingencies as to the amount, the event, the fund, or the person, have been regarded as such embarrassments to the negotiation of bills and notes, as to render them invalid for commercial purposes.
The instrument declared on, in this case, is a draft upon the drawees to pay to the assignor of the plaintiff, or order, two hundred dollars, in compliance with a vote of the company of which- they were the directors. It is a request…
2Cited by1 opinion
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