M'cullough, Asignee v. Houston
Supreme Court of the United States
This was an action brought by Hugh McCullough, as assignee of Samuel Young, upon a promissory note made by John H. Houston; and on the trial of the cause, a verdict was given for the plaintiff, subject to the opinion of the court on the following point : u Whether the indorsee of a promissory note takes it subject to all equitable considerations, to which it was subject in the hands of the indorser, the original payee ?” And if the opinion of the court was in favor of the…
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This was an action brought by Hugh McCullough, as assignee of Samuel Young, upon a promissory note made by John H. Houston; and on the trial of the cause, a verdict was given for the plaintiff, subject to the opinion of the court on the following point : u Whether the indorsee of a promissory note takes it subject to all equitable considerations, to which it was subject in the hands of the indorser, the original payee ?” And if the opinion of the court was in favor of the defendant, a new trial was to be awarded.
1Opinion of the Court
The chief justice now delivered the opinion of the court, in the following manner:
McKean, Chief Justice.
In pronouncing the opinion of the court, on the point reserved for their consideration, I shall premise, that bonds and promissory notes in writing stood on the same footing, at common law ; and that the assignment of those instruments, as well as the form, operation and effect of such assignment, depends entirely upon the municipal law of the place where it is made.
By an act of assembly of Pennsylvania, passed on the 28th day of May 1715, entitled “An act for the assigning of bonds,…
2Cases cited4 opinions
- Heller v. Lessee of JonesSupreme Court of Pennsylvania · 1811
- Ludlow v. BinghamSupreme Court of the United States · 1799
- Bullock v. WilcoxSupreme Court of Pennsylvania · 1838
- Humphries v. Blight's AssigneesSupreme Court of the United States · 1803
3Cited by7 opinions
- Louden v. TiffanySupreme Court of Pennsylvania · 1843
- Bullock v. WilcoxSupreme Court of Pennsylvania · 1838
- Ridgway v. Farmers' Bank of Bucks CountySupreme Court of Pennsylvania · 1825
- Bury v. HartmanSupreme Court of Pennsylvania · 1818
- Lighty v. BrennerSupreme Court of Pennsylvania · 1826
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