Oskaloosa College v. Hickok
Supreme Court of Iowa
Appeal from Louisa Circuit Court. Action upon a promissory note of which the following is a copy: “ $25.00. . SCHOLARSHIP NOTE No. 148. “ Columbus City, Iowa, Eeb. 10,1868. “For valine received, I promise to pay in five equal installments, the first of which shall be due the first day of January, 1869, to the treasurer of Oskaloosa College or order, at Oskaloosa, Iowa, the sum of twenty-five dollars, with interest at the rate of ten per cent per annum till paid, payable…
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Appeal from Louisa Circuit Court. Action upon a promissory note of which the following is a copy: “ $25.00. . SCHOLARSHIP NOTE No. 148. “ Columbus City, Iowa, Eeb. 10,1868. “For valine received, I promise to pay in five equal installments, the first of which shall be due the first day of January, 1869, to the treasurer of Oskaloosa College or order, at Oskaloosa, Iowa, the sum of twenty-five dollars, with interest at the rate of ten per cent per annum till paid, payable annually on the first day of January — it being for the purpose of endowing the bible department in said college. “…
1Opinion of the CourtBeck, J.
I. It may be admitted, as contended by defendant’s counsel, that the indorsement was a part of the original contract, and must be so regarded in construing the instrument.
1. promissory ment. II. But it cannot be held that the indorsement so changes the effect of the note as to release the obligation of defendant to pay the principal. The language of the indorsement indicates no such intention; on the other hand it unmistakably leads to the contrary conclusion. It permits the defendant to use the principal after due — to retain it upon the terms expressed. This indicates that plaintiff did not…
2Cited by6 opinions
- Mealey v. KanealySupreme Court of Iowa · 1939
- Claes & Lehenbeuter Manufacturing Co. v. McCordMissouri Court of Appeals · 1896
- Heaton v. AinleySupreme Court of Iowa · 1899
- Mooers v. StalkerSupreme Court of Iowa · 1922
- Bignall & Keeler Manufacturing Co. v. Pierce, Butler & Pierce Manufacturing Co.Missouri Court of Appeals · 1894
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