Bank of Middlebury v. Bingham
Supreme Court of Vermont
Assumpsit upon two promissory notes for two thousand five hundred dollars each, signed by the defendants, dated Dec. 7th, 1853, and payable to the plaintiffs in three months from date. Plea, the general issue, and trial by jury at the December Term, 1859, — Pierpoint, J., presiding. . The plaintiffs introduced the notes declared on in evidence, and rested their case.
Read the full summary
Assumpsit upon two promissory notes for two thousand five hundred dollars each, signed by the defendants, dated Dec. 7th, 1853, and payable to the plaintiffs in three months from date. Plea, the general issue, and trial by jury at the December Term, 1859, — Pierpoint, J., presiding. . The plaintiffs introduced the notes declared on in evidence, and rested their case. The defendants called Merrill Bingham as a witness, who testified as follows: “ I signed the notes in suit for the benefit of A. L. Bingham. Had no interest in them, signed them as surety. Had no knowledge or expectation that the…
1Opinion of the Court
Poland, Ch. J.
It may now be regarded as conclusively settled in this State, that a note made for the purpose of raising money, and made payable to a particular person or corporation, and with the expectation that the same will be discounted by the payee, may be taken and discounted by another, and that the person thus advancing the consideration may hold such note as a valid security for the money, even against sureties, and may enforce payment by suit in the name of the payee, unless such payee refuses to allow his name to he used for that purpose. It *634is not regarded as a material thing,…
2Cases cited5 opinions
- Franklin Bank v. CooperSupreme Judicial Court of Maine · 1853
- Bank of Burlington v. BeachSupreme Court of Vermont · 1825
- Richmond v. StandcliftSupreme Court of Vermont · 1842
- Austin v. BirchardSupreme Court of Vermont · 1859
- Boardman v. RogerSupreme Court of Vermont · 1845
3Cited by6 opinions
- Davis v. ConverseSupreme Court of Vermont · 1863
- Evans v. Speer Hardware Co.Supreme Court of Arkansas · 1898
- Bank of Newbury v. RichardsSupreme Court of Vermont · 1862
- Wright, Dryden & Co. v. FlinnSupreme Court of Iowa · 1871
- Farmers & Mechanics' Bank v. HumphreySupreme Court of Vermont · 1864
1 more not listed; retrieve them via the Exa API.