Whittaker v. Ordway
Supreme Court of New Hampshire
Writ oe Entry. Pacts found by a referee. May 2, 1882, Jonas Poster loaned the defendant $500 upon his promissory note of that date, payable to Poster’s order on demand, with interest annually, and secured by a mortgage of the real estate described in the writ.
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Writ oe Entry. Pacts found by a referee. May 2, 1882, Jonas Poster loaned the defendant $500 upon his promissory note of that date, payable to Poster’s order on demand, with interest annually, and secured by a mortgage of the real estate described in the writ. On the same day, after the note-had been delivered to Poster, he and the defendant agreed that if Poster, who was then about seventy years of age, should become disabled or be thrown out of employment, he should make his home with the defendant and board out the amount of the note. September 3, 1884, Poster being out of employment…
1Opinion of the CourtChase, J.
The question whether Poster’s agreement to> c< board out the amount of the note ” upon the happening of the contingency named could have been enforced, need not be considered, for the agreement has been fully executed. As both he- and the defendant understood that the board was furnished and accepted in payment of the note, it was payment. Jameson v. Carpenter, 68 N. H. 62. Payment by the maker of a note prior to its transfer is a good defence to an action against him by an indorsee who took it after it became due, although he paid a full consideration for it and had no notice of the payment.…
2Cited by2 opinions
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