Moses v. Trice
Supreme Court of Virginia
This was an action of debt in the Circuit court of the ■city of Richmond, brought by George W. Trice against Alfred Moses, as maker, and George Davis, as endorser, •of a lost negotiable note for twenty-one thousand dollars, bearing date the 4th day of January 1865, and payable at ninety days at the Bank of Virginia.
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This was an action of debt in the Circuit court of the ■city of Richmond, brought by George W. Trice against Alfred Moses, as maker, and George Davis, as endorser, •of a lost negotiable note for twenty-one thousand dollars, bearing date the 4th day of January 1865, and payable at ninety days at the Bank of Virginia. The declaration set out the making and endorsement of the note; •and stated as excuse for not demanding payment at the hank, that the bank bad been burned on the 3d of April, and had no place of business when the note fell due ; but that on the 10th day of June the note was duly…
1Opinion of the Court
Staples, J,
delivered the opinion of the court.
This case presents the question, whether an action at law can be maintained upon a lost negotiable note transferable by delivery. No decision can be found in the Virginia Reports involving this precise point. In England the doctrine is firmly established, that such an action cannot be maintained; and the sole remedy of the owner is in a court of chancery, which can adjust the equities of the parties, and require suitable indemnity as a condition of relief. Hansard v. Robinson, 7 Barn. & Cress. 90; Ramuz v. Crowe, 1 Exch. R. 166; 18 Eng. Law & Eq.…
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