Airey v. Pearson
Supreme Court of Missouri
Appeal from St. Louis Circuit Court. The Circuit Court CQnstrued the endorsement as an absolute promise, on the part of Hickman, to .pay, at the end of two years, without demand and notice at the expiration of four months, or at the expiration of two years, and without any prosecution of a suit against Pearson, or proof that a suit would have been unavailing.
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Appeal from St. Louis Circuit Court. The Circuit Court CQnstrued the endorsement as an absolute promise, on the part of Hickman, to .pay, at the end of two years, without demand and notice at the expiration of four months, or at the expiration of two years, and without any prosecution of a suit against Pearson, or proof that a suit would have been unavailing. In other words, the court held that Hickman was neither entitled to that demand and notice which as endorser of a negotiable note would be essential to hold him responsible, nor to that diligence which is exacted of a holder of a note…
1Opinion of the CourtHolmes, Judge
The suit is on a promissory note, negotiable under the statute as an inland bill of exchange. It was endorsed by *427the payee, before due, in these words : “For value received, I assign the within note to Josiah Thornburgh, and hold myself responsible for the payment of the same; the said Pearson [the maker] to have two years in which to pay same, unless he prefers to pay sooner; interest on same to be paid annually.” The note was then endorsed by Thornburgh to the plaintiff in these words: “ I hold myself responsible for the payment of the within note.”
The answer admitted the endorsement, and…
2Cases cited3 opinions
- Sage v. WilcoxSupreme Court of Connecticut · 1826
- Brown v. FossSupreme Judicial Court of Maine · 1839
- Blanchard v. WoodSupreme Judicial Court of Maine · 1846
3Cited by4 opinions
- Wright v. DyerSupreme Court of Missouri · 1871
- D. M. Osborne & Co. v. LawsonMissouri Court of Appeals · 1887
- Great Western Printing Co. v. BelcherMissouri Court of Appeals · 1907
- Allen v. BurgenerMissouri Court of Appeals · 1911