Purnell v. Gillespie

Citations

• 126 Miss. 60
• 88 So. 637

Syllabus

<p>1. Bills and Notes. Whether payment to holder by stranger is a discharge or a purchase depends on intention.</p> <p>Whether the payment to the holder of a promissory note by a stranger thereto of the amount due thereon is a payment and discharge of the note or a purchase of it depends on the intention of the parties to that transaction, particularly on the intention of the holder of the note.</p> <p>2. Bills and Notes. Memorandum of payment on back of note held tó show discharge and not purchase.</p> <p>In a suit on a promissory nóte by a holder claiming it by purchase from the payee or a former holder, and which contains neither a general nor special indorsement by which title would be transferred, if the only evidence of what occurred between the payee or the former holder and the claimant is a memorandum of payment on the back of the note, the transaction must be held to be a payment and discharge, and not a purchase of the note.</p>