Wadlington v. Covert

Citations

• 51 Miss. 631

Syllabus

<p>1. Bill oe Exchange : Payment. Discharge of liability.</p> <p>Whether an order taken on a third person is an absolute or conditional payment, or payment at all, of an antecedent debt, depends on agreement or circumstances, but without express agreement or special circumstances the receipt of the negotiable note of the debtor is not a payment. An order or bill of exchange drawn on a third person would not be in absolute discharge of an antecedent debt, unless it was accepted as such.</p> <p>5. Same : Order to pay out of a specific fund is not a bill of exchange.</p> <p>An order to pay a given amount ont of a specific fund is not a bill of exchange. It is not payable generally or absolutely, and if the particular fund specified should fail or never be realized by the drawer, although he might have accepted, would be under no liability.</p> <p>•3. Same : Proof of payment.</p> <p>It devolves upon the defendant to show that the promissory note of the debtor, or of a third person, or an order drawn against a special fund, was accepted by the plaintiff in payment of the antecedent debt, or the special circumstances out of which the presumption will arise.</p>