The American Law Record Volume 8 (Paperback)

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. 1880 edition. Excerpt: ...Spenc., 129-33. n Barr vs-Marsh, 9 Yerg., 2155, and Harris vs. Robinson, 4 How., 336, the fact that inquiries had been made at the bank was stated to be evidence of diligence in making inquiry. (2) An agreement between the holder of a note and a creditor of the maker, by which the holder was to accept fifty per cent, of his claim, to be secured by mortgage, which said assumption by the creditor so secured should be in full satisfaction of the holder's claim against the maker, does not discharge the indorser because the maker is a stranger to the agreement. New Jersey Sup. Ct., June Term, 1879. Herbert vs. Servin. Opinion by Reed, J.--Albany Law Journal. Sealed Notes--Negot1able Only By V1rtue Of StatUte--Defenses To--Where the form of a promissory note, with blank spaces, payable to payee or bearer, was printed, and after the spaces were filled the maker signed his name in front of a device consisting of a bracket and the word seal therein, thus, "seal," which device was also a part of the form and was printed in ink, held, that the device mentioned is a ' scrawl seal," and under the statute of this State has the effect of a common-law seal. That by affixing his signature in front thereof the maker adopted this device as his seal. Such a sealed note is only negotiable by virtue of the statute which requires the negotiation to be by "indorsement thereon." In an action on such a note in the name of the holder to whom it was transferred by mere delivery, the maker may set up any defense he could have made against the payee. Ohio Sup. Ct., Sept. 30, 1879. Osborn vs. Kistler. Opinion by Gilmore, J. NEW PUBLICATIONS. Students' Gu1de To Elementary Law, published by the Chicago Legal News Co., of Chicago. Price, $1.50....