Burch v. Hubbard

Citations

• 48 Ill. 164

Syllabus

<p>1. Consideration—release of an acceptor. Where an acceptor of a bill ol exchange, before its maturity, delivers to the holder a warehouse receipt for produce, with the express agreement, that by doing so the acceptor is to be released and discharged from liability: Held, That the delivery of the receipt is a sufficient consideration to support the agreement for the discharge and release.</p> <p>2. Pleading and evidence. Under a plea that such warehouse receipt was delivered to the holder of a draft, upon the agreement to fully discharge and release the acceptor, evidence showing that the contract was made, and the produce receipt delivered, is admissible in support of the plea, inasmuch as it presents a legal defense.</p>