(DOWNLOAD) "Dodge Et Al. v. Freedman's Savings and Trust Company" by United States Supreme Court # eBook PDF Kindle ePub Free
eBook details
- Title: Dodge Et Al. v. Freedman's Savings and Trust Company
- Author : United States Supreme Court
- Release Date : January 01, 1876
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
Mr. Walter S. Cox for the appellants. The appellee acquired the notes after maturity, and when they had been paid. A deposit for collection means for payment. It does not authorize the bank to assign, but simply to receive a payment which extinguishes the note. The notices sent out by the bank are a demand for payment. No one had a right to take an assignment of the notes without the consent of the holders. When, therefore, some one goes and tacitly pays the money into bank when due, and takes up the notes, the legal effect is a payment and extinguishment, whether it be by the maker or a stranger. Even if done at the request of the maker, if there be no further agreement, it is none the less a payment, and gives only a right of action for money paid, laid out, and expended. Burr v. Smith, 21 Barb. 262; Eastman v. Plumer, 32 N. H. 238; Cook v. Lister, 13 C. B. 594.