Bank of Albion v. Smith
New York Supreme Court
ACTION against the defendants upon a promissory note; Merrick being the maker, and Smith the indorser. The note had been discounted by the plaintiff, at the request of Smith. The complaint alleged that at the time of the indorsement and transfer of the note to the plaintiff, and as a part of the transaction, Smith promised and agreed to and with the plaintiff, that the note should be paid by the maker at the Bank of Albion.
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ACTION against the defendants upon a promissory note; Merrick being the maker, and Smith the indorser. The note had been discounted by the plaintiff, at the request of Smith. The complaint alleged that at the time of the indorsement and transfer of the note to the plaintiff, and as a part of the transaction, Smith promised and agreed to and with the plaintiff, that the note should be paid by the maker at the Bank of Albion. And that Smith expressly waived the presentation of the note to, and a demand of the maker. On the trial it was proved that a few days after the date of this note, Smith…
1Opinion of the Court
By the Court, Johnson, J.
The only question in the case is, whether the legal effect of the indorsement of a promissory note, in blank, can be varied, or changed, by a cotemporaneous parol agreement. An indorsement in blank imports, in law, a precise and definite undertaking on the part of the indorser to pay the note, upon condition that payment shall be demanded of'the maker, and notice of non-payment given to such indorser, in the manner prescribed by law. It is, in legal effect, a promise in writing. Our courts in this state have uniformly held that the legal import of a written…
2Cases cited4 opinions
- Thompson v. KetchamNew York Supreme Court · 1811
- Creery v. HollyNew York Supreme Court · 1835
- Brent's Executors v. the Bank of the MetropolisSupreme Court of the United States · 1828
- Swart v. ServiceNew York Supreme Court · 1839
3Cited by16 opinions
- Downer v. ChesebroughSupreme Court of Connecticut · 1869
- Dale v. GearSupreme Court of Connecticut · 1871
- Charles v. DenisWisconsin Supreme Court · 1877
- Rodney v. WilsonSupreme Court of Missouri · 1877
- Doolittle v. FerrySupreme Court of Kansas · 1878
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