Cooper v. Bailey
Supreme Judicial Court of Maine
On Eeport from Nisi Prius, Bice, J., presiding-. Assumpsit. The writ was against the principal defendants, several alleged trustees' residing in Lincoln county, and the President, Directors & Co., of American Bank (alleged trustees) of Hallowell, Kennebec county.
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On Eeport from Nisi Prius, Bice, J., presiding-. Assumpsit. The writ was against the principal defendants, several alleged trustees' residing in Lincoln county, and the President, Directors & Co., of American Bank (alleged trustees) of Hallowell, Kennebec county. The note declared on was as follows : — "$3504,58. Sept. 10th, 1859. "On demand, after date, we promise to pay to the order of A. J. Lynn and W. Perkins, thirty-five hundred and-four dollars and fifty-eight cents. — Value received. " Jno. Bailey & Co.” Indorsed. — "Lynn & Perkins.” . John Bailey & Cp., the principal defendants,…
1Opinion of the Court
The opinion of the Court was drawn by
Appleton, C. J.
The note in suit is payable to the order of A. J. Lynn and W. Perkins, and is indorsed "Lynn & Perkins.” At the date of the note, there was no such firm as Lynn & Perkins.
The proof is clear that Lynn had authority from Perkins to transfer the note, and, after its indorsement by Lynn, in the name of Lynn & Perkins, that Perkins sanctioned and approved such indorsement.
The authority to indorse may be by parol, and the agent may transfer the title by signing the name of his principal, to whom the note is payable. It need not appear that the…
2Cases cited3 opinions
- Merchants' Bank v. SpicerNew York Supreme Court · 1831
- Closson v. StearnsSupreme Court of Vermont · 1831
- Finch v. De ForestSupreme Court of Connecticut · 1844
3Cited by1 opinion
- First National Bank v. McNairySupreme Court of Minnesota · 1913