Manufacturers' Bank v. Cole
Supreme Judicial Court of Maine
On Report from Nisi Prius, Rice, J., presiding, Assumpsit, to recover tbe amount of a note of hand of $100, on four months, signed by one Greenleaf as principal, and the defendant as surety, payable to the plaintiff bank or order. The principal applied to the defendant to sign a note with him to the bank for $75, to raise money, with which to purchase lumber.
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On Report from Nisi Prius, Rice, J., presiding, Assumpsit, to recover tbe amount of a note of hand of $100, on four months, signed by one Greenleaf as principal, and the defendant as surety, payable to the plaintiff bank or order. The principal applied to the defendant to sign a note with him to the bank for $75, to raise money, with which to purchase lumber. Greenleaf being indebted to defendant and his partner, he proposed to make the note for $100, and that $25 of it should be paid towards the store debt against Greenleaf, which was agreed to. Greenleaf owed one Albert A. Day $22, and on…
1Opinion of the CourtRice, J.
— It is contended by the counsel for the plaintiff, that the note in suit was made for the purpose of raising money, and therefore it is immaterial to the defendant, who is surety thereon, of whom the money was obtained; to whom the note was delivered, or in whose name the action is brought, or whether the plaintiff now has, or has ever had any legal'or equitable interest therein.
To sustain this position reliance is placed upon that principle of law which authorizes an assignee to use the name of his assignor, when it is necessary to enforce equitable rights which would otherwise be lost.
Cases…
2Cases cited3 opinions
- Miller v. StewartSupreme Court of the United States · 1824
- Powell v. WatersNew York Supreme Court · 1819
- Thompson v. ArmstrongSupreme Court of Alabama · 1843
3Cited by1 opinion
- United States v. FreelU.S. Circuit Court for the District of Eastern New York · 1899