Hawkins v. Shields

Citations

• 100 Miss. 739
• 57 So. 4

Syllabus

<p>1. Bhís and Notes. Indorsement. Rights of parties.</p> <p>The indorsement of a bill or-note is not merely a transfer thereof; but it is a fresh substantive contract embodying all the terms of the instrument in itself.</p> <p>2. Same.</p> <p>The indorser of a bill or note engages that the bill or note will be accepted or paid as the case may be according to its purport. That the bill or note is in every respect genuine, that it is the valid instrument it purports to be, that the ostensible parties are competent and that he has the lawful title to and the right to indorse it: but this engagement is conditioned upon due presentment of demand and' notice.</p> <p>3. Binns and Notes. Indorsement.</p> <p>As between tbe indorser and indorsee there is no difference in the contract of indorsement, so far as the rights and liabilities of the indorser are concerned, when the indorsement is made before and when made after maturity, the only difference being that when the indorsement is made before the maturity of the bill or note, the time, of payment is fixed by the terms of the instrument itself but when the indorsement is made after maturity, payment must be demanded of the payor within a reasonable time and notice in the event of refusal given to the indorser in order to charge him.</p> <p>4. Btlls and Notes. Indorsement after maturity. Reasonable time.</p> <p>In an action on a bill or note indorsed after maturity, when the facts are few and simple, it is within the province of the court to determine what is a reasonable time in which to make demand for payment, but when they are complicated and doubtful, they should be left to the ascertainment and judgment of the jury under proper instructions from the court. When the facts are ascertained it is for the court to determine what is a reasonable time as a matter of law.</p> <p>5. Evidence. Documentary evidence. Parol evidence to vary.</p> <p>Parol evidence is never admissible to contradict or vary the terms of a valid writ