Ohio State Reports Volume 49

Ohio State Reports Volume 49

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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. 1893 edition. Excerpt: ...discharged by the laches of the holder, a subsequent promise by him to pay the note will not be binding unless shown to have been made with knowledge of the laches. 4. Where a bank, the holder for collection of a promissory note, by its negligence discharges an endorser, the latter is not estopped to set up his discharge, though the bank had at the time on deposit funds of the makers, which it afterwards paid out on the faith of an extension of time granted to the makers by the endorser, if, at the time the extension is granted, the endorser was ignorant of his discharge, and that the bank had indemnity within its control. (Decided April 26, 1892.) ERROR to the Circuit Court of Clinton county. The plaintiff in error, on the 3rd day of December, A. D. 1888, filed in the Court of Common Pleas of Clinton county a petition, wherein, after averring the corporate character of the plaintiff and defendant, it sets forth as the grounds for the relief which it sought against the defendant in error: That in the due course of its business it purchased before due, of S.. Patterson, the payee thereof, a certain promissory note, which was payable at the banking house of the defendant in error; that said S. I. Patterson endorsed the same; that after said-purchase and before the note became due, the plaintifl' in error forwarded it to the defendant in-error for collection; that defendant in error undertook to collect the same, or if not collected, to take such steps as were necessary to fix the liability of the endorser; that the note was not paid when due; that the defendant in error did not protest the same so as to fix the liability of the endorser; that the makers were insolvent, and praying damages for the amount of the note with interest. The...
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Product details

  • Paperback | 258 pages
  • 189 x 246 x 14mm | 467g
  • United States
  • English
  • black & white illustrations
  • 1236917529
  • 9781236917522