Taylor v. Curry
Massachusetts Supreme Judicial Court
Cokteact on three promissory notes made by the defendant to his own order, indorsed by him to the Columbian Insurance Company, and by the receivers of said company'indorsed to the plaintiff. The first note was as follows : “ $401. Boston, December 23, 1864. Twelve months after date I promise to pay to the order of Maurice Qurry, four hundred and one dollars, for value received. On policy No. 33,386. Bg. Stromness, Maurice Curry.”
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Cokteact on three promissory notes made by the defendant to his own order, indorsed by him to the Columbian Insurance Company, and by the receivers of said company'indorsed to the plaintiff. The first note was as follows : “ $401. Boston, December 23, 1864. Twelve months after date I promise to pay to the order of Maurice Qurry, four hundred and one dollars, for value received. On policy No. 33,386. Bg. Stromness, Maurice Curry.” The other notes differed only in amounts, dates, vessels, and the numbers of the policies. At the trial in the superior court, before JDevens, J., it appeared that…
1Opinion of the CourtChapman, C. J.
The body of each note contains words like these: “ On policy No. 33,386. Bg. Stromness.” Except for these words the notes would clearly be negotiable. The true test of the negotiability of a note is stated by Chief Justice Shaw in Cota v. Buck, 7 Met. 588. To make it negotiable it. must be an undertaking “ to pay the amount at all events at some time which must certainly come, and not out of a par ticular fund or upon a contingent event.” The words quoted in these notes do not express, any contingency as to the payment of the notes, or refer to any fund out of which they are to be paid, but…
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