Commercial Bank v. Lewis

Citations

• 21 Miss. 226

Syllabus

<p>P. filed his bill in the superior court of chancery against L. and others, which was dismissed in March, 1843 ; but in June, 1844, the decree of dismissal was set aside, and the cause reinstated ; nothing more was done with regard to the complainant, but in July, 1844, L. filed a cross-bill reiterating the charges in the bill of P., and seeking to litigate the same matter; the defendants answered the cross-bill without pleading the former decree in .bar, or objecting to the jurisdiction ; the chancellor reinvestigated the whole case, and made a different decree: Held, that the order setting aside the dismissal, made at a subsequent term, was a nullity; and that in face of the final decree against him, the complainant in the cross-bill could not have the same matter, already adjudicated upon, reinvestigated; the subsequent decree therefore was improper.</p> <p>The indorsement by a member of a firm of a note payable to the firm, though made without the knowledge of his copartner, to a third party in the payment of a debt of the firm, will pass the legal title to such indorsee.</p> <p>Where certain notes were held by, and payable to, a copartnership consisting of two members, who agreed with a former copartner to apply these notes so held by them to the payment of the debts of the former partnership, consisting of all three of them, such agreement would give the former partner nothing but an equity against the other two, to have this agreement performed ; and that agreement could only be enforced against those having notice of it.</p> <p>If, therefore, the two partners, holders of the notes, pass them off to a third party, with instructions to-apply their proceeds to their debts alone, and this is done without any notice to such third person of this agreement between these two and their former partner, the latter will have no claim against such third person for the proceeds of such notes.</p> <p>The statute authorizing the maker of a note to set up any defence again