Davis & Co. v. Campbell
Supreme Court of Alabama
An action of assumpsit was brought in the Circuit Court of Monfgomery county, by Phineas Davis & Co., against Campbell, who had indorsed to them a promissory note, in the following words: “I assign my interest to ihe within note to Phineas Davis & Co., holding myself liable for the within, should the maker fail.” The declaration was in the usual form of those upon notes indorsed in the ordinary way, averring the refusal of the maker to pay.
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An action of assumpsit was brought in the Circuit Court of Monfgomery county, by Phineas Davis & Co., against Campbell, who had indorsed to them a promissory note, in the following words: “I assign my interest to ihe within note to Phineas Davis & Co., holding myself liable for the within, should the maker fail.” The declaration was in the usual form of those upon notes indorsed in the ordinary way, averring the refusal of the maker to pay. On the trial at September term, 1828, the plaintiff proved that the maker had died insolvent, and demand of, and refusal by his administrator; but the…
1Opinion of the Court
By JUDGE COLLIER.
The indorsement in this case cannot be considered as a mere transfer of the payee’s interest in the note, with an implied agreement to be liable to the indorsee, upon a demand, refusal and notice. It certainly contains an understanding on the part of the in-dorser to be liable upon a contingency, somewhat variant from the condition which the law annexes to an ordinary indorsement, and imposes upon the indorsee, if he would coerce payment from the indorser, the necessity of shew*321ing the inability of the maker to pay, or something of an equivalent import. If it was the intenlion…
2Cited by8 opinions
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- Lent v. PadelfordMassachusetts Supreme Judicial Court · 1813
- Doullut Williams v. HoffmanSupreme Court of Alabama · 1920
- Moss v. KingSupreme Court of Alabama · 1914
- Nunnally Co. v. Bromberg & Co.Supreme Court of Alabama · 1928
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