Miller v. Poage
Supreme Court of Iowa
Appeal from I/mn Circuit Court. Action on the following instrument in writing: ■“■$100. Audubon Tp., Audubon Co., Iowa, April 26,1878. “One year after date I promise to pay to the treasurer of the National Iron Fence Co., of Cedar Rapids, Iowa, or order, One Hundred Dollars, at Cedar Rapids, Iowa, value received, with interest at ten per cent from date. Reasonable attorney fee if suit be instituted on this note.
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Appeal from I/mn Circuit Court. Action on the following instrument in writing: ■“■$100. Audubon Tp., Audubon Co., Iowa, April 26,1878. “One year after date I promise to pay to the treasurer of the National Iron Fence Co., of Cedar Rapids, Iowa, or order, One Hundred Dollars, at Cedar Rapids, Iowa, value received, with interest at ten per cent from date. Reasonable attorney fee if suit be instituted on this note. If this agent does not sell enough im, one year, one more is granted There was judgment for the defendant and the plaintiff appeals.
1Opinion of the CourtServers, J.
^YNOTE?0’ The only question to be determined is whether the instrument sued on is negotiable. The appellee insists it is not, because of the italicized words. The appellant insists the instrument is not payable out of a certain fund, and is payable at the expiration of *97two years from its date, if not sooner, and is, therefore, negotiable.
We think the true construction is that the maker was the agent of the payee for the sale of something, and if he realized sufficient funds from such sales the amount specified was to be paid within one year. Payment during such time was to be made only on…
2Cited by12 opinions
- Farmer v. Bank of GraettingerSupreme Court of Iowa · 1906
- Woodbury v. RobertsSupreme Court of Iowa · 1882
- Charlton v. ReedSupreme Court of Iowa · 1883
- Hegeler v. ComstockSouth Dakota Supreme Court · 1890
- First National Bank v. ButteryNorth Dakota Supreme Court · 1908
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