Leading And Select American Cases in the Law of Bills of Exchange Promissory No
Leading And Select American Cases in the Law of Bills of Exchange Promissory No
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332; Esdaile r. Sowerby, 11 East, 147. Many other cases to the same effect might be cited from the courts of England and of our own country ; but it cannot be necessary. In Staples v. Okines, the drawer of a bill of exchange, having effects in the hands of the drawee, was told by the drawee, before it became due, that he, the drawee, could not pay it ; and it was then nmlcrslood between them that the drawer would have to provide for it ; yet even this knowledge on the part of the drawer, and th...is understanding between him and the drawee, did not excuse the want of notice- In fact, if the indorser remains passive, if he does nothing, and the holder fails either to make due demand of payment, or to give notice of the dishonor of the note, the indorser can rarely, if ever, be made liable. There are, however, some acts of the indorser, antecedent to the time of payment of the note, that will excuse the want of notice. But an examination of the cases will show that they are such acts of the indorser as would make it fraudulent or improper in him, towards the holder or maker, to insist on notice.
What to read after Leading And Select American Cases in the Law of Bills of Exchange Promissory No?
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To quickly assess the difficulty of the text, read a short excerpt:
332; Esdaile r. Sowerby, 11 East, 147. Many other cases to the same effect might be cited from the courts of England and of our own country ; but it cannot be necessary. In Staples v. Okines, the drawer of a bill of exchange, having effects in the hands of the drawee, was told by the drawee, before it became due, that he, the drawee, could not pay it ; and it was then nmlcrslood between them that the drawer would have to provide for it ; yet even this knowledge on the part of the drawer, and th...is understanding between him and the drawee, did not excuse the want of notice- In fact, if the indorser remains passive, if he does nothing, and the holder fails either to make due demand of payment, or to give notice of the dishonor of the note, the indorser can rarely, if ever, be made liable. There are, however, some acts of the indorser, antecedent to the time of payment of the note, that will excuse the want of notice. But an examination of the cases will show that they are such acts of the indorser as would make it fraudulent or improper in him, towards the holder or maker, to insist on notice.
What to read after Leading And Select American Cases in the Law of Bills of Exchange Promissory No?
You can find similar books in the "Read Also" column, or choose other free books by Redfield, Isaac F. (Isaac Fletcher), 1804-1876 to read onlineMoreLess
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