Open main menu

Page:United States Reports, Volume 2.djvu/404

This page needs to be proofread.

393 Cases ruled and adjudged, Src. I798. which leave the bill to a free negociation, has been fully ello Liars! blilhed; a. Burr. 1216. 1226. 7. and an indorfee in the latte! cafe, cannot be affeéted even by letters accompanying the bill. R4:. lamp. Hurdw. Nor does the reafon nf the cafe in 3. TZ Rqn. So. (where the note was negociated after the term of ay- ment had clapfed) apply to a protell for non-acceptance. gills are often fo protelted, and yet are eventually paid. The {troug- eii prefumprion ariling upon a protclt for non-acceptance, is, that the drawee has not etlcéls of the drawer in his hands, at the time of prefeming the bill: but when a note has been pro- teiled for non-payment, the fair prefumption is, that the drawer is either unable to pay it, or has a legal excufe for not paying it ; and the purchafer of the note, under fuch circumliances, has a reafonable warning, and mult take it at his peril. T Cnasu, _7:_q?i¢·e. The defence cannot be admitted. There is no rule more perfeélly ellablifhed, there is none which ought to be held more facrcd in commercial tranfaétions, than that the blank indorfement of a bill of exchange paifes all the interell: in the bill, to every indorfce, in fuccefjon, difchargcd from any ob- ligation, which might fublill: between the original parties, but which doesnot appear upon the face of the inltrument itfelf. Pzrens, _7q/fic:. Though I can calily fuppofe cafes of hardlhip may arife, and thnugh I am difpofed, indeed, to think that {trong equitable circumllances now exif! in favor of the defendants; yet, the rule of law is fo well eltablifhed, and, up- on eneral principles, is fo beneficial, that I cannot perfuade myélf, in any degree, to difpenfc with its operation. I am, therefore, of opinion, that the evidence, in fupport of the defence propofed, ought not to be admitted. = Verdi& for the plaintiffs. Ingerjéll and Lzwir, for the plai¤tiE3. E. Ti{gbmau and Dallax, for the defendants. Surname