A Treatise On the Law of Promissory Notes And Bills of Exchange
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577, 6 Nev. & M. 124, 1 Har. & W. 723, A, the drawer of a bill, indorsed it to B. B indorsed it back to A, who indorsed it to C.
C then took a cognovit from A, and by this B was held to be discharged, provided C knew that A, the drawer, and the indorser, were identical. And so taking a bond or a negotiable security, payable at a future time, without the assent of the other parties, will discharge them from liabilitv. Claxton v. Swift, 3 Mod. 86 ; Bank of Wilmington v.
Simmons, I Harring. Del. 3...31. In Gould v. Robson, 8 East, 576, the holder accepted part pavment, and agreed to take acceptances for the balance due on the bill. This was very properly held to amount to an agreement to give further time or a new credit, and to work the discharge of an indorser who was no party to the contract, although at the time the drawer had no effects in the hands of the acceptor. Mohawk Bank v. Van Home, 7 Wend. 117; Bailey v. Baldwin, id. 289 ; Union Bank v. Hall, Harper, 245.
(w) A holder of a bill may forbear to sue as long as he pleases.
What to read after A Treatise On the Law of Promissory Notes And Bills of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus Parsons to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
577, 6 Nev. & M. 124, 1 Har. & W. 723, A, the drawer of a bill, indorsed it to B. B indorsed it back to A, who indorsed it to C.
C then took a cognovit from A, and by this B was held to be discharged, provided C knew that A, the drawer, and the indorser, were identical. And so taking a bond or a negotiable security, payable at a future time, without the assent of the other parties, will discharge them from liabilitv. Claxton v. Swift, 3 Mod. 86 ; Bank of Wilmington v.
Simmons, I Harring. Del. 3...31. In Gould v. Robson, 8 East, 576, the holder accepted part pavment, and agreed to take acceptances for the balance due on the bill. This was very properly held to amount to an agreement to give further time or a new credit, and to work the discharge of an indorser who was no party to the contract, although at the time the drawer had no effects in the hands of the acceptor. Mohawk Bank v. Van Home, 7 Wend. 117; Bailey v. Baldwin, id. 289 ; Union Bank v. Hall, Harper, 245.
(w) A holder of a bill may forbear to sue as long as he pleases.
What to read after A Treatise On the Law of Promissory Notes And Bills of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus Parsons to read onlineMoreLess
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