18 Wis. 481 | Wis. | 1864
By the Court,
The circuit court was most unquestionably right in holding that the law relating to bills of exchange and commercial paper on the question of diligence, did not apply to the certificate of deposit produced on the trial and read in evidence. That certificate was, by its very terms, made payable “in current funds" which this court held, in Ford v. Mitchell, 15 Wis., 304, rendered the instrument nonnegotiable. It is not payable in money, or what the court is bound to consider as equivalent to money. See authorities cited in Ford v. Mitchell; Edwards on Bills and Promis. Notes, p. 134, et seq. Even if the certificate had been negotiable, it may be questionable whether the indorsee was guilty of laches in holding it five days before he presented it for payment. The prevailing opinion seems to be, that such an instrument? when payable in money, possesses all the requisites of a negotiable promissory note (Miller v. Austen, 13 How. (U. S.), 218; Bank of Orleans v. Merrill, 2 Hill, 295; Kilgore v. Bulkley, 14 Conn., 362; Laughlin v. Marshall, 19 Ill., 390; The Bank of Peru v. Farnsworth, 18 Ill., 563, and authorities cited in
We see no error in the record which would warrant a reversal of the judgment.
The judgment of the circuit court is affirmed.