21 S.D. 400 | S.D. | 1907
Appellant, an Iowa banking corporation, brought this action as an indorsee in due course to recover the amount of four promissory notes, each for $300,, executed by respondent at his place of residence in the state of Minnesota, where they were all made payable to Charles Peters, or order, with interest from date at the rate of 6 per cent, per annum. Upon the theory that the statute of Minnesota and not the law of the forum should
Neither party being a resident of South Dakota, it is quite probable that appellant brought the action in this jurisdiction, rather than in Minnesota, where the notes were executed and made payable, for the purpose of escaping the consequences of a change in the law merchant effected by the statute of that state, which was duly proved at the trial, and which reads as follows; “No person, nor the heirs or the personal representatives of any person whose signature is obtained to any bill of exchange, promissory note or other paper negotiable under the law merchant shall be held on any such bill, note or contract, nor liable in any manner on account of such signature, if it shall be made to appear as a matter of fact that the signature to such bill, note or contract is obtained by fraudulent representation, trick or artifice as to the nature and terms of the contract so' signed, and that the person
Conformable to the view 'of Judge Story and the presumed intention and understanding of all interested parties, the courts have quite uniformly held that the law of the place where the contract is made and to be performed must govern as todts 'construction, validity, and enforcement. Curtiss v. Leavitt, 15 N. Y. 227; Home National Bank v. Hill, 165 Ind. 226, 74 N. E. 1086; Easton v. Wostenholm, 137 Fed. 524; Clague v. Creditors, 2 La. 114; Stumpf v. Hallahan, 101 App. Div. 383, 91 N. Y. Supp. 1062;
Without any prejudicial -errors of law occurring at the trial in matters pertaining to the evidence, or in the manner of its submission to the jury, .the correct conclusion was reached in favor of respondent ;• and the judgment appealed from is affirmed'.