118 Mass. 473 (Mass. 1875), Wait v. Thayer

Citation118 Mass. 473
Opinion JudgeWells, J.
Party NameLyman J. Wait v. Justin Thayer & others
AttorneyC. Delano, for the defendant Lyman. C. C. Conant, for the plaintiff, was not called upon.
Judge PanelWells, J. Ames & Endicott, JJ., absent.
Case DateOctober 22, 1875
CourtSupreme Judicial Court of Massachusetts

Page 473

118 Mass. 473 (Mass. 1875)

Lyman J. Wait

v.

Justin Thayer & others

Supreme Court of Massachusetts

October 22, 1875

Page 474

[Syllabus Material]

Page 475

[Syllabus Material]

Page 476

[Syllabus Material]

Page 477

Franklin. Contract against Justin Thayer, George Sergeant, Luke Lyman and Samuel F. Warner, copartners doing business under the firm name of Thayer, Sergeant & Company, on the following promissory note, signed "S. F. Warner," and indorsed "Thayer, Sergeant & Co.": "Northampton, Mass., Nov. 1st, 1872. One year from date, I promise to pay to the order of Thayer, Sergeant & Co., one thousand dollars, at ten per cent. interest, value received." Warner was defaulted. The other defendants answered, denying their liability. Pending the suit, Thayer and Sergeant died, and the action was prosecuted against Lyman alone. Trial in the Superior Court, before Aldrich, J., who allowed a bill of exceptions in substance as follows:

The defendants were a trading firm, engaged in the grain and flour business, having their office in Northampton. One Graves testified for the plaintiff that he was bookkeeper of Thayer, Sergeant & Co., and that the defendants were members of the firm, which was organized in 1867 and existed until February, 1873, when it was dissolved; that Sergeant indorsed on the note the signature of the firm. On cross-examination, the witness testified that he had seen the note before, some time about November 1, 1872; that the handwriting of the body of the note, except figure "1" of the date and the rate of interest, was in the witness' own hand; that Warner was present in the office of the company at Northampton, when the witness wrote it at Warner's request; that he saw Warner sign the note after the witness wrote it; that the note at the time Warner signed it was without the words "ten per cent. interest," and without the figure "1" of the date, these having been added since; that he saw Sergeant write the name of the firm on the back of the note within an hour after Warner signed it; that there was no further addition before Sergeant indorsed it, and Warner took the note from Sergeant the last thing before he (Warner) left the office; that the witness never saw the note again till after it had been protested; that Thayer and Lyman were both absent when the note was signed and indorsed. The witness also testified that the addition of the words "ten per cent. interest" was in Warner's handwriting, and that the interest and figure "1" of the date were in the same colored ink; that he had no knowledge when the figure "1" of the date or rate of...

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12 practice notes
  • 82 N.Y. 291, Atlantic State Bank v. Savery
    • United States
    • New York New York Court of Appeals
    • 12 Octubre 1880
    ...Middletown, 28 Id. 440; Smith v. Lusher, 5 Cow. 688; Smyth v. Strader, 4 How. [ U. S.] 404; Babcock v. Stone, 3 McL. 172; Wait v. Thayer, 118 Mass. 473; At. Nat. Bk. v. Savery, 127 Id. 80.) The powers of an association organized under the banking act of 1838 are not to be strictly construed......
  • 135 A. 95 (Me. 1926), Megunticook Nat. Bank v. Knowlton Bros.
    • United States
    • Maine Supreme Judicial Court of Maine
    • 27 Noviembre 1926
    ...(Waldo Bank v. Greely et al., 16 Me. 419). The counsel for plaintiff rely upon the last three cases cited, and upon Wait v. Thayer, 118 Mass. 474, and Parker v. Burgess, 5 R.I. 277. In all these cases the note or bill was indorsed for the benefit of a member of the firm and bore his name, a......
  • 39 Mich. 644 (Mich. 1878), New York Iron Mine v. First National Bank of Negaunee
    • United States
    • Michigan Supreme Court of Michigan
    • 21 Noviembre 1878
    ...instructions, Chemung Bank v. Bradner, 44 N. Y., 680; Trader's Bank v. Bradner, 43 Barb. 379; Rich v. Davis, 6 Cal. 141; Wait v. Thayer, 118 Mass. 473; Smith v. Lusher, 5 Cow. 688; Ihmsen v. Negley, 25 Penn. St., 297; Ridley v. Taylor, 13 East, 175; Haldeman v. Bank of Middletown, 28 Penn. ......
  • 201 Mass. 341 (1909), Christian Feigenspan v. McDonald
    • United States
    • Massachusetts Supreme Judicial Court of Massachusetts
    • 1 Marzo 1909
    ...of the firm was for the accommodation of the maker, or that upon negotiation he received the money for his private use. Wait v. Thayer, 118 Mass. 473. Unless there are restrictions limiting his authority, one member of a commercial firm may borrow money for use in their business, and issue ......
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12 cases
  • 82 N.Y. 291, Atlantic State Bank v. Savery
    • United States
    • New York New York Court of Appeals
    • 12 Octubre 1880
    ...Middletown, 28 Id. 440; Smith v. Lusher, 5 Cow. 688; Smyth v. Strader, 4 How. [ U. S.] 404; Babcock v. Stone, 3 McL. 172; Wait v. Thayer, 118 Mass. 473; At. Nat. Bk. v. Savery, 127 Id. 80.) The powers of an association organized under the banking act of 1838 are not to be strictly construed......
  • 135 A. 95 (Me. 1926), Megunticook Nat. Bank v. Knowlton Bros.
    • United States
    • Maine Supreme Judicial Court of Maine
    • 27 Noviembre 1926
    ...(Waldo Bank v. Greely et al., 16 Me. 419). The counsel for plaintiff rely upon the last three cases cited, and upon Wait v. Thayer, 118 Mass. 474, and Parker v. Burgess, 5 R.I. 277. In all these cases the note or bill was indorsed for the benefit of a member of the firm and bore his name, a......
  • 39 Mich. 644 (Mich. 1878), New York Iron Mine v. First National Bank of Negaunee
    • United States
    • Michigan Supreme Court of Michigan
    • 21 Noviembre 1878
    ...instructions, Chemung Bank v. Bradner, 44 N. Y., 680; Trader's Bank v. Bradner, 43 Barb. 379; Rich v. Davis, 6 Cal. 141; Wait v. Thayer, 118 Mass. 473; Smith v. Lusher, 5 Cow. 688; Ihmsen v. Negley, 25 Penn. St., 297; Ridley v. Taylor, 13 East, 175; Haldeman v. Bank of Middletown, 28 Penn. ......
  • 201 Mass. 341 (1909), Christian Feigenspan v. McDonald
    • United States
    • Massachusetts Supreme Judicial Court of Massachusetts
    • 1 Marzo 1909
    ...of the firm was for the accommodation of the maker, or that upon negotiation he received the money for his private use. Wait v. Thayer, 118 Mass. 473. Unless there are restrictions limiting his authority, one member of a commercial firm may borrow money for use in their business, and issue ......
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