Papers on Appeal

Papers on Appeal

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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. 1897 edition. Excerpt: ... This affidavit, verified by the plaintiff's president on May '26th, 1897, and offered in opposition to the motion to vacate the attachment, does not set forth the agreement, either the original or a copy. It simply alleges that the agreement referred to in the original affidavit "contains a provision" which is quoted as follows: "In consideration of the granting of such credit, it is hereby agreed that, in case of the failure or insolvency of the undersigned, all obligations of the undersigned held by said bank shall become immediately due and payable." The phrase "such credit" obviously refers to something previously mentioned in the agreement as its consideration. But the Court was not and is not now permitted to see its language so as to judge for itself what credit, according to its terms, the bank had agreed to give. For example, it may well be that the agreement refers to a credit independent of or additional to the discount of the note in suit, and that without such credit the agreement would be entirely uninforceable. It was incumbent upon the plaintiff to show what the "such credit " was and also that it was in fact given. It was not entitled to ask the Court to take its construction of the agreement or its bare allegation that it was made in consideration of the discount of the note in suit, when from the agreement itself it appears that it was made in consideration of some " credit," the particulars and terms of which can only be ascertained from the agreement itself. The importance of carefully examining language of this sort is illustrated by the case of the Merchants' National Bank against The Columbia Spinning Company, argued at this term. There the original affidavit on...show more

Product details

  • Paperback | 274 pages
  • 189 x 246 x 15mm | 494g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236976290
  • 9781236976291