Farmers & Mechanics' Bank v. Humphrey
Supreme Court of Vermont
Assumpsit on a promissory note, dated June 13th, 1859, for $200., signed by the defendants, and payable to the plaintiff twenty days afterdate. Trial by the court, April Term, 1861, Pierpoint, J., presiding. From the evidence adduced on trial, the court found the following facts: That Allen was surety for Humphrey on the note, and never had any benefit from, nor security in respect thereto.
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Assumpsit on a promissory note, dated June 13th, 1859, for $200., signed by the defendants, and payable to the plaintiff twenty days afterdate. Trial by the court, April Term, 1861, Pierpoint, J., presiding. From the evidence adduced on trial, the court found the following facts: That Allen was surety for Humphrey on the note, and never had any benefit from, nor security in respect thereto. That at its date Humphrey applied to Allen to sign the note with him to the hank, and that Allen signed the note upon the express condition that before it should he used Humphrey should also get it signed…
1Opinion of the CourtKellogg, J.
In several recent cases, it has been settled by this court that a promissory note made for the purpose of raising money, or of being exchanged for money, though made payable to a particular person or corporation, and with the expectation that it will be discounted by the payee, may be discounted by any other person, and that the party who advances the consideration may hold the note as a valid security for the money, even against sureties, and may use the name of the payee to enforce payment by suit, by the payee’s consent, either •express or implied. Keith v. Goodwin, 31 Vt. 268 ; Bank of…
2Cases cited6 opinions
- Passumpsic Bank v. GossSupreme Court of Vermont · 1858
- Keith v. GoodwinSupreme Court of Vermont · 1858
- Bank of Newbury v. RichardsSupreme Court of Vermont · 1862
- Bank of Burlington v. BeachSupreme Court of Vermont · 1825
- Bank of Middlebury v. BinghamSupreme Court of Vermont · 1861
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Howard National Bank v. WilsonSupreme Court of Vermont · 1923
- Newell Brothers v. HansonSupreme Court of Vermont · 1924
- Hancock v. Empire Cotton Oil Co.Court of Appeals of Georgia · 1915
- Evans v. Speer Hardware Co.Supreme Court of Arkansas · 1898
- Daniels v. GowerSupreme Court of Iowa · 1880