Smalley v. Wight
Supreme Judicial Court of Maine
Tbe facts of tbis case were agreed as follows: This action is Assumpsit on two promissory notes. Tbe notes were given by tbe defendant to one wbo sold them to tbe plaintiffs for a full consideration, and were in tbe following words, viz.: “'$25.00. Thomaston, Oct. 7,1856. Six months after date,-I promise to pay to tbe order of myself twenty-five dollars, value received, at tbe Tbomaston Bank, with interest. Signed, J. B. Wight.” ■On wbicb tbe defendant indorsed bis name.
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Tbe facts of tbis case were agreed as follows: This action is Assumpsit on two promissory notes. Tbe notes were given by tbe defendant to one wbo sold them to tbe plaintiffs for a full consideration, and were in tbe following words, viz.: “'$25.00. Thomaston, Oct. 7,1856. Six months after date,-I promise to pay to tbe order of myself twenty-five dollars, value received, at tbe Tbomaston Bank, with interest. Signed, J. B. Wight.” ■On wbicb tbe defendant indorsed bis name. The second note declared on was as follows: “ 25.00. Thomaston, Oct. 4,1856. Nine months after date, I promise to pay to…
1Opinion of the CourtMay, J.
It is competent for the maker of a promissory note or the drawer of a bill, to make it- payable to- the order of himself. This mode of creating negotiable paper is found to be convenient, especially in our commercial cities, because when such paper has been properly issued, it may be transferred by the holder by delivery, and it does not require his indorsement to make it further negotiable. The practice of issuing such paper has now become very common, and its validity, when indorsed by the maker or drawer, is not questioned.
It is well settled, that notes and bills payable to order cannot be…
2Cases cited1 opinion
- Taylor v. BinneyMassachusetts Supreme Judicial Court · 1811
3Cited by4 opinions
- First National Bank v. PayneSupreme Court of Missouri · 1892
- Harnett v. HoldregeNebraska Supreme Court · 1905
- Market & Fulton National Bank v. Estate of EttensonMissouri Court of Appeals · 1913
- Woodbury v. WoodburySupreme Court of New Hampshire · 1866