Tucker v. New Hampshire Savings Bank
Supreme Court of New Hampshire
Trover, for two $500 bonds of the state of New Hampshire, payable in twenty-one years “ to the order of -,” being part of the municipal war loan provided for by c. 3, Laws of 1871, and delivered to William E. Cogswell, agent of Henniker, as part of its share of such bonds. Cogswell, as treasurer of Henniker, sold the bonds to the plaintiff, February 25, 1873, who on the same day deposited them with Cogswell for safe-keeping.
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Trover, for two $500 bonds of the state of New Hampshire, payable in twenty-one years “ to the order of -,” being part of the municipal war loan provided for by c. 3, Laws of 1871, and delivered to William E. Cogswell, agent of Henniker, as part of its share of such bonds. Cogswell, as treasurer of Henniker, sold the bonds to the plaintiff, February 25, 1873, who on the same day deposited them with Cogswell for safe-keeping. February 26, 1875, Cogswell, without the knowledge or consent of the plaintiff, pledged the bonds to the defendants as security for a loan of $1,000 then made by the…
1Opinion of the CourtAllen, J.
State bonds, and bonds of municipal and other corporations, are negotiable securities, and pass by indorsement, or delivery, like negotiable promissory notes or bank notes, unless by special provisions on their face, or by legislative acts authorizing their issue, such transfer is restricted or prohibited. Mercer Co. v. Hacket, 1 Wall. 83; Murray v. Lardner, 2 Wall. 110. The bonds in question are of this character, and there is nothing on their face, so far as the case shows, nor in the law (c. 3, Laws of 1871) authorizing their issue, restricting in any way their negotiability.
The holder of…
2Cases cited11 opinions
- Swift v. TysonSupreme Court of the United States · 1842
- Murray v. LardnerSupreme Court of the United States · 1865
- Goodman v. SimondsSupreme Court of the United States · 1858
- Commercial Bank v. KortrightCourt for the Trial of Impeachments and Correction of Errors · 1839
- Mercer County v. HacketSupreme Court of the United States · 1864
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3Cited by1 opinion
- Farnham v. FoxSupreme Court of New Hampshire · 1883