Commiskey v. McPike

There is a conflict of authority in courts of the various states on the subject whether the receipt by the creditor from the debtor, of the note or acceptance of a third person, corresponding in amount, is prima facie evidence of the payment of the original demand. Our supreme court in the case of Appleton v. Kennon (19 Mo. 641), followed the New York rule as declared in Tobey v. Barber (5 Johns. 68), that “anote either of the debtor or of a third person, for a pre-existing debt, is no payment unless the creditor expressly agrees to take it as payment, and to run the risk of it being paid. ’…