McVeigh v. Bank of Old Dominion

Citations

• 26 Va. 785
• 26 Gratt. 785

Syllabus

<p>I. M owned a large real estate in Alexandria, and was president of the Bank of the Old Dominion located in that city. In 1861 M endorsed seven notes made in March and on to June by J, which were discounted at the bank. Before any of these notes fell due the Union forces took possession of Alexandria, and held it till the end of the war. A few days after they came M left the city, and joined his family, who had left some time before; he leaving at his dwelling a white servant, and having had his place of business at the bank. He remained at Richmond, within the Confederate lines, until the end of the war. Two of the notes had been made and discounted for M’s accommodation, and he received the proceeds. All the notes were protested for non-payment as they fell due, and notice of dishonor was left at his house, with the white servant left by M there, except one, which was left at his place of business at the bank: and no other notice was ever given him. Held :</p> <p>1. The notice was not sufficient to bind M as endorser on the notes.</p> <p>2. On the notes made and discounted for his accomodation, M was liable without notice.</p> <p>3. Though the declaration is special upon the note, and avers demand and notice to the endorser, the plaintiff may prove on the trial that the note was made and discounted for the accommodation of the endorser, and that he received the proceeds, and recover in the action, though no notice, or an insufficient notice, was given to the endorser:</p> <p>4. The statute directing how notices may be given, does not apply to anotice of the dishonor of negotiable paper. Code of i860, ch. 167, l I, of 1873, ch. 163,? 1.</p> <p>5. The fact that the makers of these notes paid to the branch of the bank at P, in Confederate money, the full amount of the notes, under the act of assembly authorizing it, the branch not having the notes at the time, does not constitute a payment; though after the war the bank took possession of all the assets of said bra