12 Wis. 635 | Wis. | 1860
By the Court,
The only question in this case is, whether days of grace are allowable in New York upon a bill of exchange payable at sight. The action is by an in-dorsee against an indorser of such a bill, and it is claimed that the latter is discharged on account of the neglect to present the bill for payment at the proper time, and give notice of non-payment, so as to fix the liability of the indorser. The drawees lived in New York, and of course the law of
In the absence of our statute upon the question, it is not entirely clear whether it would be held that in this state a bill of exchange drawn payable at sight was due on presentment, or on the third day thereafter. There is some conflict of authority, and the point does not seem to be entirely settled by them. But still our statute removes all doubt, and it is therefore unnecessary to inquire whether it is in affirmance of the general principles of commercial law or not.
The judgment of the circuit court is reversed, and a new trial ordered.