Raymond v. Middleton & Co.
Supreme Court of Pennsylvania
Certificate from the Court of Nisi Prius. This was an action brought by Messrs. Raymond and Fullerton against Edward and Charles Middleton, on a promissory note of which the following is a copy:— Philada., 2d Mo., 22, 1858. $2600. On the 10th day of December next, for value received, I promise to pay to John W. Middleton twenty-six hundred dollars, payable and negotiable without defalcation at the Kensington Bank. Signed Middleton & Co. Endorsed, John W. Middleton.
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Certificate from the Court of Nisi Prius. This was an action brought by Messrs. Raymond and Fullerton against Edward and Charles Middleton, on a promissory note of which the following is a copy:— Philada., 2d Mo., 22, 1858. $2600. On the 10th day of December next, for value received, I promise to pay to John W. Middleton twenty-six hundred dollars, payable and negotiable without defalcation at the Kensington Bank. Signed Middleton & Co. Endorsed, John W. Middleton. Pay to order of Charles Abert. R. J. Walker, Charles Abert. Pay to order of C. F. Yerkes, Cash’r. J. Hockley, Cash’r. The note,…
1Opinion of the Court
The opinion of the court was delivered by
Porter, J.
So commonly are the terms “ or order,” “or bearer,” employed in commercial instruments, that we are apt to suppose them essential to negotiability. It is otherwise. Words are but the signs; thought is chiefly valuable; and when for a sufficient consideration, the minds of the parties have concurred in an agreement, that is a contract, and it must be executed as they intended, unless forbidden by law. “ Order ” or “ bearer ” are convenient and expressive, but clearly not the only words which will communicate the quality of negotiability. “…
2Cases cited5 opinions
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- Mandeville v. Union Bank of GeorgetownSupreme Court of the United States · 1815
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- President of the Bank of North America v. BarriereSupreme Court of Pennsylvania · 1794
3Cited by2 opinions
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