Wesleyan Seminary v. Fisher
Michigan Supreme Court
Case reserved from Wayne Circuit. This was an action of assumpsit, brought on a promissory note, of which the following is a copy : “Eor value received, I promise to pay the Wesleyan Seminary, at Albion, or bearer, the sum of one hundred dollars, on or before the first day of January, 1855, with interest, to be paid annually at Albion, at ten per cent., after three years. [Signed] “ M. M. Eisheb. [l. s.] “ Dated, October 20t7i, 1851, Detroit.”
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Case reserved from Wayne Circuit. This was an action of assumpsit, brought on a promissory note, of which the following is a copy : “Eor value received, I promise to pay the Wesleyan Seminary, at Albion, or bearer, the sum of one hundred dollars, on or before the first day of January, 1855, with interest, to be paid annually at Albion, at ten per cent., after three years. [Signed] “ M. M. Eisheb. [l. s.] “ Dated, October 20t7i, 1851, Detroit.” On the back of said note was endorsed : “ The interest may commence in three (3) years, or sooner, if the maker choose; and he may then secure this and…
1Opinion of the Court
. Ey the Court,
Martin, J.
The only defence interposed by Fisher to the plaintiffs’ recovery in this action, is based upon the fact, that in the subeription paper which contained his original promise, and in satisfaction of which the note in question was given, the plaintiffs, on their part, undertook, among other things, to convey to the suberibers of one hundred dollars, stock in the Institution to an equal amount.
*524This undertaking, the defendant contends, is impossible to be performed, and is not binding upon the plaintiffs ; and he also contends that it is illegal, and that, upon both of…
2Cited by5 opinions
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- Nichols v. SeaksMichigan Supreme Court · 1941
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- Butterfield v. ReynoldsMichigan Supreme Court · 1917
- South v. First Nat. BankAlabama Court of Appeals · 1920