Usher v. Raymond Skate Co.
Massachusetts Supreme Judicial Court
Contract, upon a promissory note for $266.30, dated July 5, 1891, payable four months after date to the order of the plaintiffs, signed “ Geo. J. Raymond & Co.,” and indorsed “ Raymond Skate Co., per J. M. Raymond, Treasurer.”
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Contract, upon a promissory note for $266.30, dated July 5, 1891, payable four months after date to the order of the plaintiffs, signed “ Geo. J. Raymond & Co.,” and indorsed “ Raymond Skate Co., per J. M. Raymond, Treasurer.” The declaration alleged that the note was made by “ Hattie D. Raymond, then doing business under the firm name and style of George J. Raymond & Co.” Answer: 1. A general denial. 2. That the note was given without consideration and without the authority or knowledge of the defendant, solely for the accommodation of George J. Raymond and Company; and that the plaintiffs…
1Opinion of the CourtHolmes, J.
The plaintiffs took the note in suit with knowledge that the defendant’s treasurer indorsed it for the accommodation of the maker, at least unless the statement alleged to have been made to them that the defendant held a mortgage from the maker to secure it was true. Unless that statement was true, therefore, they had notice that in the absence of actual authority the defendant’s treasurer had no right to indorse the note. See Monument National Bank v. Globe Works, 101 Mass. 57; National Bank of Commonwealth v. Law, 127 Mass. 72, 75; Davis v. Old Colony Railroad, 131 Mass. 258; Bank of…
2Cases cited5 opinions
- Davis v. Old Colony RailroadMassachusetts Supreme Judicial Court · 1881
- Monument National Bank v. Globe WorksMassachusetts Supreme Judicial Court · 1869
- National Bank of Commonwealth v. LawMassachusetts Supreme Judicial Court · 1879
- Crossan v. New York & New England RailroadMassachusetts Supreme Judicial Court · 1889
- Ex parte EstabrookDistrict Court, D. Massachusetts · 1877
3Cited by5 opinions
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- Commercial Casualty Insurance v. Daniel Russell Boiler Works, Inc.Massachusetts Supreme Judicial Court · 1927
- Pierce, Butler & Pierce Manufacturing Corp. v. Daniel Russell Boiler Works, Inc.Massachusetts Supreme Judicial Court · 1928
- Atlantic Nat. Bank v. HanfligCourt of Appeals for the First Circuit · 1934