McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 16

McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 16

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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. 1913 edition. Excerpt: ... established in this case warrant the conclusion that they were discharged from liability on their note. These defendants made the note, selected their own bank as the place where they desired to have it paid, and agreed to pay it according to its terms, and it was their duty to do it, for the note was concededly in the bank where they had made it payable, when it became due, and, while the Farmers' & Merchants' Bank would have had a perfect right to pay the note when it became due and charge it to defendants' account, they having sufficient funds on deposit in that bank to meet the note, still when defendants called their bank on the telephone the day the note became due, and after finding it was there directed the bank to pay it, the Farmers' & Merchants' Bank from that moment became the agent of the defendants with reference to the payment of the note, and was responsible to them in the matter of its payment. 5 Cyc. 501; Indig v. National City Bank, 80 N. Y. 100. Moreover, as to the question of negligence raised by defendants, if there was any negligence at all, it is chargeable in a greater degree to the defendants than to plaintiff. They lived and did business in Watkins where the Farmers' & Merchants' Bank was located. They were the parties who put the note in question in circulation, and indicated on its face where it was to be paid, and. if it is urged that plaintiff was remiss in its duty in not making prompt inquiry after the note was due as to whether or not it had been paid, the charge of negligence and carelessness could be urged with much greater force against defendants, for they, being in the same town with the bank that failed, and knowing that the note was there for...show more

Product details

  • Paperback | 366 pages
  • 189 x 246 x 19mm | 653g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236990544
  • 9781236990549