Burdick v. Green

To fbe cataassumpsit, a mSng&epro. rounts™ men® fendmít^mSe “ &ed®piainti¿ pro{™is!°iv promises, which the plaintiff received in full satisfaction, and afterwards endorsed and delivered the note to A. B. is bad: fov the receiving of a promissory note and endorsingittoa third person, does not extinginal cause of action, provided the payee can show it to be lost, or can produce it on the trial to be cancelled. A negotiable note does not extinguish an antecedent debt which formed the consideration of it except sub modo. The endorsement of a promissory note to A. B. or order, for value received, transfers the legal title in the note to the endorsee, which cannot be devested, except by cancelling the endorsement, or endorsing it again.

THIS was an action of assumpsit. The declaration con-tamed several counts: 1, On a promissory note, dated the 21st June, 1810, made by the defendant, and payable to the plaintiff, or order, on the 1st of August next, thereafter, for 1525 dollars : 2. The second count, after setting forth the note, stated, that the plaintiff endorsed it to Joel Ketchum, or order, who, on the 31st July, 1816, did, under his hand and seal, transfer, assign, and set over to the plaintiff, the said note, together with all his right, title, and interest therein, by reason whereof the defendant became liable to pay, and being so liable, in consideration thereof undertook, &c. 3. The common money counts. 4. Indebitatus assumpsit for goods sold. 5. A quantum valebant on the same. The defendant pleaded, 1. Non assumpsit. 2. Actio non accrevit infra sex annos. 3. 4. That the promises mentioned in the declaration were made before ..the 3d oí ^1812, on which day the defendant was discharged from his debts, as an insolvent, under the act of the 3d of April, 1811. 5. .To the first count of the declaration the defendant pleaded, that after the making the promissory note therein mentioned, and before the commencement of this suit, to wit, on the 21st of June, 1810, the plaintiff, in writing, endorsed it to Joel Ketchum, or order, and delivered it to him. 6. To the third, fourth and fifth counts the defendant pleaded, that after the making the several promises in those counts mentioned, to wit, on the 21st of June, 1810, the defendant made his promissory note for the same identical promises, and delivered it to the plaintiff, by which note, for value received, he promised to pay the plaintiff, or order, 1525 dollars, on the first day of August then next, which note the plaintiff received in full satisfaction of the said promises, and that the plaintiff, afterwards, endorsed and delivered it to Joel Ketchum for value received.