Moore & Co. v. Meyer
Supreme Court of Alabama
Appeal from Circuit Court of Dallas. Tried before Hon. George H. Craig. The opinion states the facts. A deposit by a debtor of money to his credit, with his banker, who held his past 'due paper, with instructions to the banker to pay such paper, is not a payment of such paper unless actually applied by the banker to its payment, or placed to the credit of the holder. 2 Pars. Con. 625; 4 Johns.
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Appeal from Circuit Court of Dallas. Tried before Hon. George H. Craig. The opinion states the facts. A deposit by a debtor of money to his credit, with his banker, who held his past 'due paper, with instructions to the banker to pay such paper, is not a payment of such paper unless actually applied by the banker to its payment, or placed to the credit of the holder. 2 Pars. Con. 625; 4 Johns. N. Y. 377; 3 B. & C. 591; 17 Ala. 648. Ferguson & Co. were the agents of the appellant, and payment to them was payment of the bill. 7 Wall. 447; 2 Wall. 252.
1Opinion of the CourtBrickell, C. J.
The appellants sued the appellee, as acceptor of a bill of exchange drawn by them, payable to their own order, for the sum of seventy-five dollars, dated February 15, 1873, due March 25, 1873. The appellants sent the bill for collection to Ferguson & Co., bankers at 'Selma, the residence of the appellee, by whom it was at maturity presented for payment. Ferguson & Co. were the bankers of the appellee, with whom he kept a general deposit account. The course of dealing between them, was, that whenever Ferguson & Co. had claims on the appellee for collection, and he had money on deposit, they…
2Cases cited2 opinions
- Austin v. . the New Jersey Steamboat Co.New York Court of Appeals · 1870
- Smith v. PresidentNew York Supreme Court · 1856
3Cited by1 opinion
- Baldwin's Bank of Penn Yan v. SmithNew York Court of Appeals · 1915