Reports of the Decisions of the Court of Appeals of the State of ..., volume 14
Reports of the Decisions of the Court of Appeals of the State of ..., volume 14
Colorado. Court of Appeals, William E. Beck, Thomas M. Robinson, John Alonzo Gordon
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Pondir, 55 N. Y. 325 ; Weber v. Baessler, 3 Colo. App. 459- The principle which underlies the right, has been held to be available to a vendor of negotiable paper ; but, as in the case of merchandise, the paper must be reclaimed while it is in transit. Canterbury v. Bank of Sparta^ 91 Wis. 53 ; Miller v. Pondir^ supra; Daniel on Negotiable Instruments, § 67. The Minneapolis bank did not undertake to recover the draft while it was in transit. It gave no notice to the postal au- thorities not to ...deliver it to the defendant. It addressed, in- stead, a request to the defendant, the payee, to send it back. The direction contemplated the delivery of the draft to the defendant, and could not possibly be effective until such de- livery. But when the dmf t came into the defendant's hands, it was no longer in transit^ and the right to reclaim it, if any existed, was at an end. But no condition existed upon which the Minneapolis bank might lawfully reclaim this draft. It is the insolvency of the purchaser, occurring before the goods have been received by him, that authorizes the seller to stop them.
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