Spires v. Southern States Phosphate & Fertilizer Co.
Court of Appeals of Georgia
Complaint, from city court of McKae — Judge Griffin presiding. December 10, 1907. The Southern States Phosphate and Fertilizer Company sued Spires on a promissory note. The defendant pleaded that he was entitled to be credited with the amount of certain notes deposited with the plaintiff as collateral security for the payment of the note sued on, and which he alleged the plaintiff had negligently failed to collect, thereby damaging him in that amount.
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Complaint, from city court of McKae — Judge Griffin presiding. December 10, 1907. The Southern States Phosphate and Fertilizer Company sued Spires on a promissory note. The defendant pleaded that he was entitled to be credited with the amount of certain notes deposited with the plaintiff as collateral security for the payment of the note sued on, and which he alleged the plaintiff had negligently failed to collect, thereby damaging him in that amount. The court, at the conclusion of the evidence introduced on the trial, directed a verdict against the defendant, for the amount sued for; and he…
1Opinion of the CourtHill, C. J.
1. One who receives promissory notes or other ehoses in action as collateral s'ecurity is bound to use ordinary diligence to collect' them. Civil Code, §2963; Schoul. Bail. (3d ed. §236); Colebrooke, Col. Sec. §114.
2. Where the maker of a promissory note is sued thereon by the payee, and the defense is set up that the latter failed to collect certain promissory notes pledged with him by the former as collateral security, the defendant must show that the collateral notes were collectible, and that the . failure to collect them was due to the negligence of the plaintiff, and that damage…
2Cases cited7 opinions
- Fisher v. George S. Jones Co.Supreme Court of Georgia · 1899
- Colquitt & Baggs v. StultzSupreme Court of Georgia · 1880
- Lee v. BaldwinSupreme Court of Georgia · 1851
- Mauck v. Atlanta Trust & Banking Co.Supreme Court of Georgia · 1901
- Manly Mfg. Co. v. Western Union Tel. Co.Supreme Court of Georgia · 1898
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Miller v. Piedmont Fertilizer Co.Court of Appeals of Georgia · 1917