The Law of Negotiable Instruments; Statutes, Cases and Authorities

The Law of Negotiable Instruments; Statutes, Cases and Authorities

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ...1 " If the words ' to A. B. only ' were inserted, I should think it would not be restrictive; at least it should be left to the jury... Where a man says 'pay to A., ' the law says it is ' to A. or order.' He then says, I intend it should not be so. What signifies what you intend. The law intends otherwise." Denison, J., in Edit v. East India Co., I Wm. Bl. 295 "Whether this indorsement is only an authority to A. B. to receive the money for the use of the indorser, or for his own use, if made for value received, or whether in this last case the restriction is not void, and A. B. may further negotiate it, seems not to be settled. If the property of the note be vested in A. B., perhaps he will hold it with its negotiable quality, notwithstanding the restriction. But of this we give no opinion." Parsons, C. J., in Rice v. Stearns, 3 Mass. 225, foil, p. 365.--Ed. g 66 LEAVITT v. PUTNAM. g 36 3 New York, 494.--1850. Hurlbut, J.--On the 29th day of August, 1844, Messrs. J. W. & R. Leavitt made their note for $1,570.52, payable to the order of T. Putnam & Co. (the defendants), eight months after date. A few days after the maturity of the note the defendants indorsed it as foU lows: "Pay the within to A. Thacher, value received, May 21, 1845. T. Putnam & Co." Thacher indorsed without recourse, and delivered the note for a valuable consideration to the American Exchange Bank, in whose behalf this action is brought. On the trial the defendants urged, among other grounds of objection to the plaintiffs' recovery, that the defendants' indorsement was in effect a new draft payable to Thacher only, and not negotiable, so that no action could be maintained upon it in the name of the plaintiff. In this they were...
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Product details

  • Paperback | 290 pages
  • 189 x 246 x 15mm | 522g
  • United States
  • English
  • black & white illustrations
  • 1236739469
  • 9781236739469