Amoskeag Bank v. Moore
Supreme Court of New Hampshire
Assumpsit against the defendants, as indorsers of a promissory note signed by Paige & Young, payable to the defendants, or order, in ninety days, with interest, and indorsed by the defendants, “waiving notice.” Plea, the general issue. It appeared that the note was discounted by the plaintiffs at the request of the indorsers, and that a few days before it matured they applied to the hank to have the day of payment extended for sixty days.
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Assumpsit against the defendants, as indorsers of a promissory note signed by Paige & Young, payable to the defendants, or order, in ninety days, with interest, and indorsed by the defendants, “waiving notice.” Plea, the general issue. It appeared that the note was discounted by the plaintiffs at the request of the indorsers, and that a few days before it matured they applied to the hank to have the day of payment extended for sixty days. It was agreed between the bank and the indorsers that it should be extended, and the following’ memorandum was written below the note, and signed by the…
1Opinion of the CourtSawyer, J.
The application made to the bank by the defendants, a few days before the maturity of the note, for an extension of the time of payment, and the arrangement which resulted, giving sixty days further time, furnished sufficient ground for the understanding on the part of the plaintiffs that demand of payment of the makers at the maturity of the note would be unnecessary. They must be supposed to have considered that it would be an idle step to demand payment in order to charge the indorsers, when the indorsers themselves had previously made an arrangement with the holders, assented to by the…
2Cited by1 opinion
- Sheldon v. HortonNew York Supreme Court · 1868