Downer v. Tucker
Supreme Court of Vermont
Assumpsit upon a promissory note dated April 18,1858, signed by the defendant, and payable to “ Levi H. Marsh, or bearer, on demand, for value received, after a lease shall be given up from Levi H. Marsh to Olive Ann Marsh, dated July 28, 1851.” The case was tried by the court, at the December Term, 1857, of the Windsor County Court, — Redeield, Ch. J., presiding.
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Assumpsit upon a promissory note dated April 18,1858, signed by the defendant, and payable to “ Levi H. Marsh, or bearer, on demand, for value received, after a lease shall be given up from Levi H. Marsh to Olive Ann Marsh, dated July 28, 1851.” The case was tried by the court, at the December Term, 1857, of the Windsor County Court, — Redeield, Ch. J., presiding. It appeared that the note was given as a part of the price of a farm sold by Marsh to the defendant, and that the lease referred to was outstanding upon the farm in the hands of the lessee, Olive Ann Marsh. It did not appear how…
1Opinion of the CourtPoland, J.
The defendant insists that the note on which this action is founded is not a negotiable note, so as to authorize the plaintiff to maintain an action upon it in his own name, though the note is in terms made payable to Levi H. Marsh or bearer. This is claimed upon the ground that the note is not a promise to pay absolutely, but that it is made payable “ on demand after a lease shall be given up from Levi H. Marsh to Olive Ann Marsh,” and that this is such a contingency as may never happen, and so the note may never become payable by its own terms. The law upon this subject is perhaps as…
2Cases cited9 opinions
- Coolidge v. RugglesMassachusetts Supreme Judicial Court · 1819
- Stevens v. BluntMassachusetts Supreme Judicial Court · 1810
- Moar v. WrightSupreme Court of Vermont · 1826
- Rutland & Burlington R. R. v. ColeSupreme Court of Vermont · 1851
- Bucklin v. WardSupreme Court of Vermont · 1835
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3Cited by2 opinions
- Talley v. BurtisSupreme Court of Kansas · 1891
- Royce v. NyeSupreme Court of Vermont · 1880