8 Minn. 324 | Minn. | 1863
JBy the Court.
The instrument upon which this action is commenced is in the following words :
“ THREE hundred DOLLARS IN CURRENCY.
“ Banking Exchange and Collecting office of $300. Parker Paine & Berry,
“ St. Paul, Minnesota. 18 — .
“ Pay to the order of Heinrich Holtz, Esq., three hundred (currency) dollars.
“ Tour obedient servant,
“ Marine Bank, Chicago.” “ Parrer Paine,”
It was indorsed with the following names : “ Heinrich Holtz, C. Lewis, L. Butler.”
The first question to determine is, whether this is a negotiable instrument under the law-merchant. The statutes of our State leave notes and bills to be construed by the common law applicable to such paper, no material changes having
On the other hand, we find in the case of Cockerill vs. Kirkpatrick, 9 Missouri, 697, it was held a note payable in “ the currency of this State,” is payable in gold or silver coin or in the notes of the Bank of Missouri, and a note payable “ in the current money of Missouri,” is payable in gold or silver coin alone. In Judah vs. Harris, 19 John. R., 144, it was held that a note payable “ in bank notes, current in the city of New York,” is a negotiable note. A note payable to B., or bearer, in “ York State bills or specie,” is a negotiable note. Keith vs. Jones, 9 John. R., 120. A note or bond payable “ in good current money of the State,” is payable in gold or silver.” Graham vs. Adams, 5 Pike, Arkansas R. 261. In this case, the Court put the question upon the word “ good,” intimating that without it the words would not mean gold or silver, holding that the words “ good, current money of the State,” are distinguishable from “ currency of this State,” “ current bank paper of the State,” or “ current notes of the State.” See also, 1 Eng. Ark. R., 255; 4 Ala. 88.
The word “ currency ” is defined in Bouvier’s Law Dic
We are of the opinion that this bill upon its face, is payable in money, and therefore negotiable.
The Court properly overruled all attempts to show by parol that the parties agreed that the bill should be payable in any other manner than that indicated by its terms, or, in other words, to contradict or vary the terms of the instrument by parol.
Tiie counsel for the Defendant, seeing his difficulty, (1 Chitty’s Pl., 217,) then moved for leave to amend liis answer by pleading a mercantile usage of custom which gave to the word “ currency,” when used in drafts of this character, a signification different from that which it commonly and legally imports, to wit, that it meant •“ such bank bills as were current at the place of payment.” The Court refused the amendment and ar. exception was taken.
We have so often declined to review questions of this nature, on the ground tha't the matter rested in the discretion of the Court, that we do not deem it necessary to refer particularly to the decided cases. We think it would have been of very doubtful propriety to bave allowed the amendment at tbat late stage of the trial, under the circumstances as they appear in the record.
The Court left the question of delay in the presentment of the draft for payment, to the jury, at the request of the Defendant, and instructed them that it was “ incumbent upon the payee and endorsee to use reasonable diligence in presenting a draft for payment, and an unreasonable delay in such presentment will discharge the maker.” The Defendant has no right to complain of this disposition of tbe question by the Court. He asked it and took no exception to it.
We find no error in the proceedings of the Court below, and affirm the order denying a new trial.
MOTION ROB RE-AROTMENT.
By the Court.
At the last term of this
Whether the courts are justified in noticing judicially the actual condition of the paper currency of their own State, is to ns not so clear as these cases assume it to he. It is time Bank paper has some recognized privileges in the law. A levy upon Bank notes does not necessitate a sale, as in the case of other chattels; they may be treated oiviUter, as money, for wbat they are worth. Also, a tender in bank notes is good, unless objected to specifically, for the reason that it is not made in money. Yet notwithstanding these rules
In all the cases we have been able to find, there was something in the bill or note under consideration, which indicated clearly that it was payable in some kind of paper currency,
"We consider this case so much at length, because of its similarity to the one at bar, and as we are compelled to disagree with its holdings, we deem it proper to state the reasons why. "We think the Court, in that case, indulged two assumptions erroneously. First, That the word currency necessarily meant paper currency ; and, second, that the paper currency of their State was of less value than cash. Under the generally received rule of interpretation, that words used are to be construed most strongly against the promissor, the word currency should be held to mean, in a note or bill, that kind of currency most in accordance with the general tenor of the instrument in which it occurs, and most valuable to the pro-missee. The instrument is payable to order, and a sum certain is specified in dollars, two circumstances tending to prove that the intention of the parties was to create a negotiable security or promise. The word “ currency” means in one, and we think the primary sense, the established, lawful standard medium of exchange, legal tender money, or gold and silver coin. If it has any other meaning in the commercial world, it is a much more restricted and less definite one than the gen
Upon very careful research, and mature consideration of the subject, we are satisfied with the disposition we made of the case in the first instance, although we may not have examined the cases cited with the same care we have since done.
The question that would be presented on a re-argument being necessarily involved and discussed in the hearing of the motion for a re-argument, and having been considered by us upon the motion, and held adversely to the Appellant, we deny the motion,