Richie v. McCoy

Citations

• 21 Miss. 541

Syllabus

<p>In an action against the drawer of a bill of exchange, which has been duly accepted by the drawee, it is not sufficient to fix his liability to prove that, on the day of the maturity of the bill, he had no funds in the hands of the acceptor to meet it; in such case, to excuse notice to the drawer, it must be shown, that, from the time of making the bill to its maturity, the drawer had no property or effects whatever in the hands of the acceptor, and had no right upon other grounds to expect that the bill would be paid by him.</p> <p>Nor does the proof of want of funds of the drawer, in the hands of the acceptor on the day of maturity, throw upon the drawer the onus of proving that he had reasonable grpunds to expect that the bill would be paid on presentation; the fact of the bill being accepted raises such presumption in the drawer’s behalf.</p>