Commentaries On The Law Of Promissory Notes And Guaranties Of Notes And Checks On Banks And Bankers Classic Reprint

Author : Joseph Story
Publisher : Rarebooksclub.com
ISBN 13 : 9781230170862
Total Pages : 302 pages
Book Rating : 4.1/5 (78 download)

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Download or read book Commentaries on the Law of Promissory Notes, and Guaranties of Notes,Aand Checks on Banks and Bankers; with Occasional Illustrations from Tooooommerci written by Joseph Story and published by Rarebooksclub.com. This book was released on 2013-09 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. 1856 edition. Excerpt: ...due presentment, or due notice.4 Indeed, this would seem to be the general rule prevalent among the commercial states of continental Europe. Casaregis lays it down as a general rule, that where the due presentment or due notice would be of no benefit to the drawer of a Bill, (and the like reason would seem to apply to the indorsers of a Note, ) there the omission will not affect the rights of the holder against him;1 and Baldasseroni adopts the same doctrine.2 drawers and acceptor continued solvent for many months after the Bill was dishonored; and it was not until they had become bankrupts, that payment was demanded of the defendant. Under these circumstances, because the necessary steps were not taken to obtain payment from the parties to the Bill, while they continued solvent, the Court of Common Pleas held the guarantee to be discharged. In Holbrow v. Wilkins, the acceptors were known to be insolvent before the Bill fell due; and some days after that fact was known, the plaintiffs wrote to the defendant, and desired him to accept a new Bill, which he refused. The Bill was not presented for payment when due, nor any notice of the non-payment given to the defendant. The Bill would not have been paid if presented; and it did not appear that the defendant sustained any damage by reason of the want of presentment or notice; and this Court held the guarantee not to be discharged. These decisions show, that cases of this kind depend upon the circumstances peculiar to each. In the present case it does not appear that Irving & Co. have sustained any damage by the want of notice of the nonacceptance of the Bill. Cranston, the drawer, was not entitled to such notice; he had no right to draw, and he sustained no prejudice. He had become...