Yeaton v. Bank of Alexandria
Supreme Court of the United States
ERROR.to the Circuit court of the district of Colúmbia, in an action of 'assumpsit brought by the defendants in error against the plaintiff in error as endorsor of a promissory note for the accommodation of .R, Young, the maker. ' The declaration contained two counts. One upon the endorsement of. the note, in the usual form, and without any averment of the insolvency of the maker, or of any steps taken to enforce ‘payment from' him.
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ERROR.to the Circuit court of the district of Colúmbia, in an action of 'assumpsit brought by the defendants in error against the plaintiff in error as endorsor of a promissory note for the accommodation of .R, Young, the maker. ' The declaration contained two counts. One upon the endorsement of. the note, in the usual form, and without any averment of the insolvency of the maker, or of any steps taken to enforce ‘payment from' him. The other was for money, had and received. •The same questions arose in this case as in the preceding case of Young v. The Bank of Alexandria, but the only…
1Opinion of the Court
March 10.
Marshall, Ch. J.
delivered the opinion of the court as follows, viz.
The question in this case is, wfieth.er the endorsor of a note negotiable in the bank of Alexandria, if such endorsement be for accommodation, may be sued by the bank, before a suit shall be instituted against the maker, if the maker be solvent.
In Virginia; the endorsor of a promissory note was not, when the town of Alexandria was separated from that state, liable to the holder by any express statute. He was only liable under the implied contract created by his endorsement. This implied contract, by the general…
2Cited by28 opinions
- Renner v. Bank of ColumbiaSupreme Court of the United States · 1824
- Kenworthy v. SawyerMassachusetts Supreme Judicial Court · 1878
- Page's Administrators v. Bank of AlexandriaSupreme Court of the United States · 1822
- Kanawha County Public Library v. County Court of Kanawha CountyWest Virginia Supreme Court · 1958
- Long v. Pence's CommitteeSupreme Court of Virginia · 1896
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