Cook v. Satterlee
New York Supreme Court
On demurrer to the declaration. The plaintiff declared in assumpsit, that on the 25th day of July, 1825, W. F. and C. E. Clarke, according to the usage and custom of merchants, &c. made their certain bill of exchange, &c. dated on that day, directed to the defendants, by which they requested the defendants, 90 days after date, to pay to the plaintiff, or bearer, 400 dollars ; and take up their note given to William and Henry B. Cook for that amount, dated April 19,1825 ;…
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On demurrer to the declaration. The plaintiff declared in assumpsit, that on the 25th day of July, 1825, W. F. and C. E. Clarke, according to the usage and custom of merchants, &c. made their certain bill of exchange, &c. dated on that day, directed to the defendants, by which they requested the defendants, 90 days after date, to pay to the plaintiff, or bearer, 400 dollars ; and take up their note given to William and Henry B. Cook for that amount, dated April 19,1825 ; which bill the defendants on the same day accepted, according to the usage, &c. General demurrer and joinder. insisted that…
1Opinion of the Court
Curia, per
Savage, Ch. J.
The essential qualities of a bill or note, are 1. That it be pavable at all events : not *109dependent on any contingency, nor payable out of a particular fund ; and 2. That it be for the payment of money only, and not for the performance of some other act, or in the alternative. (Chit. on Bills, 55.)
Is not the instrumnnt declared on payable upon a contingency ? From the face of the instrument itself, it appears that the drawers had, on the 19⅛ of April preceding its date, given their note for $400, to Wm. and H. B. Cook ; and the object of drawing the instrument in…
2Cited by15 opinions
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- Sloan v. McCartyMassachusetts Supreme Judicial Court · 1883
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