Sage v. Walker
Michigan Supreme Court
Error to Wayne Circuit. June 1st, 1861, George B. Russell made a note for $548.42, payable on the first of September following, to the order of C. I. & E. C. Walker, at the Michigan Insurance Bank, Detroit, with eight per cent interest. This note was indorsed by the Walkers, to plaintiff, who resides in New York city.
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Error to Wayne Circuit. June 1st, 1861, George B. Russell made a note for $548.42, payable on the first of September following, to the order of C. I. & E. C. Walker, at the Michigan Insurance Bank, Detroit, with eight per cent interest. This note was indorsed by the Walkers, to plaintiff, who resides in New York city. May 12, 1862, plaintiff, still holding the note, wrote to E. C. Walker a letter in regard to it, saying, among other things, “Add the interest, and give mé a new note at 3, 4, 5 or 6 months.’’ May 24, 1862, E. C. Walker replied to this letter, enclosing $100 in money, and a new…
1Opinion of the Court
Martin Ch. J.:
The charge of the Court was clearly correct, and settles the whole case, rendering a consideration of the questions of evidence unnecessary.
The effect of taking a second note upon the vitality of *427“the first is sometimes determinable by the law, and sometimes by the contract under which it was given and received. In the present case the correspondence of the parties, which went to make up the contract, shows that the second note was given and received in discharge “of the first. Walker sent forward that note to be retained Only upon condition of a surrender of the first. Sage was…
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