First National Bank v. Buttery
North Dakota Supreme Court
Appeal from District Court, Grand Forks County; Fisk, J. Action by the First National Bank of Pomeroy against J. K. Buttery. Judgment for defendant, and plaintiff appeals. A note payable on a-date certain or before upon a contingency is negotiable. ■ Phelps v. Sargent-, 71 N. W. 927; Coda v. Buck, 7 Mete. 588; Walker v. Woolen, 54 Ind. 164; Charlton v. Reed, 16 N. W. 64; Eaton & Gilbreath, Gom. Paper, 220; 4 Am. & Eng. Enc.
Read the full summary
Appeal from District Court, Grand Forks County; Fisk, J. Action by the First National Bank of Pomeroy against J. K. Buttery. Judgment for defendant, and plaintiff appeals. A note payable on a-date certain or before upon a contingency is negotiable. ■ Phelps v. Sargent-, 71 N. W. 927; Coda v. Buck, 7 Mete. 588; Walker v. Woolen, 54 Ind. 164; Charlton v. Reed, 16 N. W. 64; Eaton & Gilbreath, Gom. Paper, 220; 4 Am. & Eng. Enc. Law, 93; 7 Cyc. 599; Stevens v. Blunt, 7 Mass. 240; Goodloe v. Taylor, 10 N. C. 458; Ernst v. Steckman, 15 Am. St. Rep. 542. Date of maturity is certain, and the rights of…
1DissentMorgan, C. J.
I am unable to concur in the conclusion reached by my associates in this case. \ My reason for reaching an opposite conclusion may be briefly stated.
The statute in express terms requires that the time of payment must be definitely stated in the note or that it can be definitely determined therefrom when it becomes payable, or it will be rendered non-negotiable. From the face of the note, it seems to me conclusive that it does not show when the note may become due and payable in view of the fact also stated therein that an extension may become operative and binding. It does not seem to me to…
2Cases cited13 opinions
- Glidden v. HenryIndiana Supreme Court · 1885
- Second National Bank v. WheelerMichigan Supreme Court · 1889
- Woodbury v. RobertsSupreme Court of Iowa · 1882
- Citizens N. Bank v. PiolletSupreme Court of Pennsylvania · 1889
- City National Bank v. Gunter Bros.Supreme Court of Kansas · 1903
8 more not listed; retrieve them via the Exa API.