Clement v. Leverett
Superior Court of New Hampshire
Assumpsit, upon two bills of exchange, for $ 1200 each, dated November 16th, 1837, and payable, one in twelve, and the other in fifteen months, drawn by Gordon Burley, payable to his own order, and accepted by the defendants.
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Assumpsit, upon two bills of exchange, for $ 1200 each, dated November 16th, 1837, and payable, one in twelve, and the other in fifteen months, drawn by Gordon Burley, payable to his own order, and accepted by the defendants. It appeared in evidence, that the bills were drawn by Bur-ley, and accepted by the defendants, in order that Burley might get them discounted for their benefit, and remit the money to them as soon as he could, but not later than January, 1838. He gave them a receipt for the bills, specifying the purpose for which he received them. About the first of December, 1837,…
1Opinion of the CourtParker, C. J.
We have held, that where a promissory note is indorsed, and transferred in pledge, merely as collateral security, the general property remaining in the indorser, the holder takes it like a chose in action not negotiable, sub*319ject to any defence that might be made to it, in the hands of the indorser, arising prior to the time when notice is given of the indorsement. Williams vs. Little (11 N. H. Rep. 60;) Jenness vs. Bean, (10 N. H. Rep. 266.) It makes no difference whether it is indorsed as security for an existing debt, or for value received at the time.
In the cases just cited, no question…
2Cases cited4 opinions
- Smith v. MooreSuperior Court of New Hampshire · 1840
- Beard v. KirkSuperior Court of New Hampshire · 1840
- Jenness v. BeanSuperior Court of New Hampshire · 1839
- Fletcher v. FletcherSuperior Court of New Hampshire · 1835