Childs v. Davidson

Citations

• 38 Ill. 437

Syllabus

<p>1. Promissory note—what constitutes. An instrument was made as follows:</p> <p>“ Chicago, Ill., Sept. 19, 1854.</p> <p>“ For value received I promise to pay to the order of Shubael D. Childs two hundred dollars, with interest, payable to F. Vose or bearer, on the first day of July, next, at Messrs. Forrest Brothers’ & Co., banking house Chicago City, Illinois.</p> <p>“ SHUBAEL D. CHILDS, SR.”</p> <p>This was held to be a promissory note, and negotiable as such, notwithstanding it would not be considered as issued until indorsed by Shubael D. Childs, Jr.</p> <p>2. Assignment—what constitutes—guaranty. When the payee of a note indorses upon it : “I guarantee the payment of the within note,” that will operate also as an assignment of the instrument.</p> <p>3. Variance—between the name of the payee and indorser of the note. Where a promissory note payable to “ F. Vose” was assigned by “ Franklin Vose,” and the assignment is not put in issue by a sworn plea, it is proper to presume that the “ Franklin Vose” who indorsed the note is the “ F. Vose” to whom it was payable.</p>