Peddicord & Wyman v. Whittam
Supreme Court of Iowa
Appeal from Linn District Court. The Plaintiff sued the defendants on a contract of the tenor following: “April 25th, 1858. Four months after date, for ■value received, I promise to pay Crosby & Co., or bearer, one hundred and ten dollars in merchantable wagon lumber, at two dollars per hundred — such sizes and dimensions as we may order, and to be delivered at our shop in Marion' — and if -not paid in lumber, to be cash and ten per cent interest after due.
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Appeal from Linn District Court. The Plaintiff sued the defendants on a contract of the tenor following: “April 25th, 1858. Four months after date, for ■value received, I promise to pay Crosby & Co., or bearer, one hundred and ten dollars in merchantable wagon lumber, at two dollars per hundred — such sizes and dimensions as we may order, and to be delivered at our shop in Marion' — and if -not paid in lumber, to be cash and ten per cent interest after due. Isaac M. Whittam.” This was indorsed: “Assigned to R. II. Lucore & Co. the 20th of August 1858. Crosby & Co.” and also, “We guarantee the…
1Opinion of the CourtWoodward, J.
The instrument sued on is not a promissory note, nor is it negotiable under Sec. 950 of the Code, as claimed by the defendant Whittam. That section provides that promises to pay property, or a sum of money in ■ property, shall be negotiable whenever it is manifest from *473tbe terms that sucb was the intent of the maker. But the use of the word “order” or “bearer” alone will not manifest such intent. There is nothing in this paper indicating an intent to make it negotiable, save the use of the word “bearer,” consequently the days of grace claimed by this defendant do not pertain to the contract.
Th…
2Cases cited1 opinion
- Long v. SmyserSupreme Court of Iowa · 1856
3Cited by6 opinions
- Culbertson v. NelsonSupreme Court of Iowa · 1895
- Mowery v. P. P. Mast & Co.Nebraska Supreme Court · 1880
- Peck v. FrinkSupreme Court of Iowa · 1859
- Holbert v. WermerskirchenSupreme Court of Minnesota · 1941
- Jones v. WilsonSupreme Court of Iowa · 1860
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