Richards v. Jefferson

Citations

• 20 Wash. 166
• 54 P. 1123
• 1898 Wash. LEXIS 490

Syllabus

<p>PARTNERSHIP — CONTRACTS OF CO-PARTNER — PROMISSORY NOTES-PAYMENT —PLEADING.</p> <p>Although one co-partner may have had no authority to bind the firm by the execution of promissory notes in its name, a subsequent memorandum, executed by the co-partnership and reciting that the company is indebted to the payee in sums evidenced by promissory notes executed by the company now overdue, amounts to a ratification of the notes, even if several of them may not be quite due, when there were no other notes between the parties than the ones in suit.</p> <p>Proof of payment of a promissory note cannot be introduced! in evidence, unless pleaded.</p> <p>A bank is not obliged to retain deposits for the purpose of applying same on the depositor’s notes held by it, if there is no agreement to that effect.</p>