Stewart v. Samuel Hidden
Supreme Court of Minnesota
This action was brought in the District Court for Hennepin County to recover the balance, alleged to be due, upon a promissory note executed, by defendant on the 28th of February, 1869, for $674, payable in 15 months, with interest at the rate of 18 per cent, per annum. The defendant put in an answer containing two counts. The gist of the first defence was a denial of plaintiff’s title to the note.
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This action was brought in the District Court for Hennepin County to recover the balance, alleged to be due, upon a promissory note executed, by defendant on the 28th of February, 1869, for $674, payable in 15 months, with interest at the rate of 18 per cent, per annum. The defendant put in an answer containing two counts. The gist of the first defence was a denial of plaintiff’s title to the note. The second defence was, that in the spring of 1865, the plaintiff being the holder of the note, and claiming, and having lawful right and authority therefor, as fully as the absolute owner thereof,…
1Opinion of the Court
Wilson Oh. J.
By the Court I think the demurrer should not have been sustained.
There is no rule of law, or public policy, forbidding the owner and holder of a note made by a third person to transfer it without consideration. The transfer carries with it the debt; or in the language of the Chancellor in Contant vs. Schuyler, 1 Paige R. 318, “is a symbolical delivery of the debt due on the note, and ail the delivery of which the subject is capable.” The delivery to the donee, consummates the gift as effectually as if the donation consisted of a chattel. Edwards on Bills and Notes, 325 ; See also…
2Cases cited2 opinions
- Landrum v. Trowbridge, Dwight & Co.Court of Appeals of Kentucky · 1859
- Bedell v. . CarllNew York Court of Appeals · 1865
3Cited by6 opinions
- Reed v. CopelandSupreme Court of Connecticut · 1883
- Pyle v. EastSupreme Court of Iowa · 1915
- Lamprey v. LampreySupreme Court of Minnesota · 1882
- McLean v. GreenMississippi Supreme Court · 1972
- Attorney General v. Supreme Council American Legion of HonorMassachusetts Supreme Judicial Court · 1910
1 more not listed; retrieve them via the Exa API.