4 Johns. 119 | N.Y. Sup. Ct. | 1809
delivered the opinion of the court. In this case, the question is, what damages the plaintiff, who is the indorsee of a foreign bill of exchange, of which the defendant is the drawer, and which was returned protested for non-acceptance and non-payment, is entitled to recover; the plaintiff contending, that he has a right to recover, as well the principal and interest, as also 20 per cent, damages, and an additional 2 per cent, as the difference of exchange, between the time of negotiating the bill, and notice of the non-payment to the defendant, by way of re-exchange. The payment of this 2 per cent, the defendant resists.
The right to recover 20 per cent, damages on the protest of a foreign bill of exchange, rests with us on immemorial
Judgment accordingly.
2 H. Bl. 373.
Chit. 216. 2 H. Bl. 378. Amb. 674. 2 Term Rep. 52.