43 P. 167 | Or. | 1896
Opinion by
“The theory of a bill of exchange,” says Mr. Daniel, in his work on Negotiable Instruments, § 17, “is that the bill is an assignment to the payee of a debt due from the acceptor to the drawer; and it is undoubtedly true that the payee has a right to suppose that the drawee has funds of the drawer, upon the faith of which understanding he receives the bill directing them to be paid to him.” It will be presumed that a bill of exchange was given or indorsed for a sufficient consideration: Hill’s Code, § 776, subdivision 21. While a bill of exchange may have been received by the payee in liquidation of the drawer’s
“Office No. 92.
“Oakland, California, August 24, 1895.
15To F. A. Hanseom, eare of Woodard, Clarke and Company, Portland, Oregon — Go to Chicago; draw on us funds Woodard, Clarke and Company.
“W. P. Gould.”
The witness Izard testified, in substance, that he knew W. P. Gould, who was the president of the El Montecito Manufacturing Company; that Gould was at Santa Barbara, California, between the twenty-fourth and twenty-seventh of August last; that the Postal Telegraph Company had no office at that city, but the Western Union maintained one there. It is possible that Gould may have been at Oakland, California, on August twenty-fourth, eighteen hundred and ninety-five, and at Santa Barbara between that date and the twenty-seventh of said month, or that he may have ordered some one at Oakland to send the message in his name; but as the state had alleged and relied