Manning v. Norfolk Southern R. Co.
U.S. Circuit Court for the District of Eastern Virginia
Common-law action on coupons which had been cut from bonds made and issued by the defendant, and which were secured by a mortgage to Ford & Jordan, as trustees, dated September 1,1880. The bonds were in the usual form of railroad bonds, and by each of them the railroad company promised to pay $1,000 to the bearer on September 1, 1920, with interest at the rate of 6 per cent., on the first days of March and September in each year, upon presentation and surrender of the…
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Common-law action on coupons which had been cut from bonds made and issued by the defendant, and which were secured by a mortgage to Ford & Jordan, as trustees, dated September 1,1880. The bonds were in the usual form of railroad bonds, and by each of them the railroad company promised to pay $1,000 to the bearer on September 1, 1920, with interest at the rate of 6 per cent., on the first days of March and September in each year, upon presentation and surrender of the coupons annexed to said bonds as they should severally become due. The bonds further recited that the payment of the principal…
1Opinion of the CourtHughes, J.
The common-law right of siting to judgment upon a written obligation admitted to be valid is of too high a character to be taken away by implications, especially if these are drawn from instruments other than that which is given in direct and positive acknowledgment of the debt. The suit at law is brought upon written obligations in the form of coupons cut from bonds payable to the holder. In defense the defendant contends that the right of action upon them has been taken away by the provisions of a mortgage which it executed simultaneously with the execution of the bonds. The mortgage was…
2Cited by12 opinions
- Muren v. Southern Coal & Mining Co.Missouri Court of Appeals · 1913
- Scott v. PlattOregon Supreme Court · 1943
- Bartol v. Gottlieb-Bauernschmidt-Straus Brewing Co.Court of Appeals of Maryland · 1916
- Quadrant Structured Products Co. v. VertinSupreme Court of Delaware · 2013
- Belleville Savings Bank v. Southern Coal & Mining Co.Appellate Court of Illinois · 1912
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