Wood v. Price

Decision Date31 January 1868
Citation1868 WL 4899,46 Ill. 435
PartiesJOHN WOOD et al.v.WILLIAM PRICE.
CourtIllinois Supreme Court

OPINION TEXT STARTS HERE

APPEAL from the Circuit Court of Adams county; the Hon. JOSEPH SIBLEY, Judge, presiding.

The material facts are fully stated in the opinion.

Messrs. WARREN & WHEAT and Mr. A. WHEAT, for the appellants.

Mr. C. V. MARCY and Mr. O. C. SKINNER, for the appellee.

Mr. CHIEF JUSTICE BREESE delivered the opinion of the Court:

This was an action of assumpsit, brought to the Adams Circuit Court, at the October term, 1867, by William Price, against John Wood and Joshua S. Wood, partners in the business of banking, under the firm name of John Wood & Co., at Quincy, to recover the amount of three drafts, drawn by the defendants, in favor of the plaintiff, on Hoffman & Gelpcke, of Chicago, bearing date May 7, 1861.

The declaration counted on the drafts, and contained the common money counts.

The defendants pleaded non-assumpsit to the whole declaration, and various special pleas to the special counts of the declaration, to which there was a demurrer by the plaintiff, and sustained by the court. There was also a plea of set-off, and the usual replication thereto, and issue thereon. An issue was made up on the plea of non-assumpsit, a jury waived, and the cause tried by the court, the plaintiff having non pros'd his special counts.

The court found for the plaintiff on the common counts, and assessed the damages at three thousand two hundred and sixty-six dollars and twenty-five cents, for which, having overruled a motion for a new trial, the court entered judgment.

To reverse this judgment, the record is brought here by appeal, and various errors assigned thereon.

There is no question made upon the pleadings, nor is there any question of law presented by this record, as we view the case. The sole question is, did the evidence justify the finding of the court?

The drafts were never presented by the holder for payment. Ordinarily, this would be such laches as to discharge the drawers. The general rule, in respect to paper of this kind, is conceded to be, that the holder must present it, and demand payment in a reasonable time after it is drawn, and if payment is refused, due notice thereof must be given to the drawer, of such refusal.

An exception to this rule is, when the drawer, at the time of drawing, or at the maturity of the bill, if a time bill, had no funds of the description specified in the bill, in the hands of the drawee.

The bills in question were drawn for current funds which this court has said signified cash, or paper money equivalent thereto. Swift et al. v. Whitney et al., 20 Ill., 144; Galena Ins. Co. v. Kupfer, 28 ib. 335; Marc v. Kupfer, 34 ib. 292.

It was claimed by the plaintiff on the trial, that he took the bills with the express understanding that he was to use them in discharging an indebtedness against him, if he could, and if he could not so use them, he was to return them to the defendants, and receive their checks for the amount; that he was unable to make the designed use of them, and offered to return them to the defendants. He also claimed that at the time the bills were drawn, and after, the defendants had no funds in the hands of the drawees, of the character specified in the bills, and he further claimed, that after the drawees became insolvent, the defendants, knowing that fact, and knowing, also, that the bills had not been presented, expressly...

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18 cases
  • Feder v. Elliott, 35643.
    • United States
    • Iowa Supreme Court
    • June 28, 1924
    ...20 Ill. 144;Galena Insurance Co. v. Kupfer, 28 Ill. 332, 81 Am. Dec. 284;Marc v. Kupfer, 34 Ill. 286;Hunt v. Devine, 37 Ill. 137;Wood v. Price, 46 Ill. 435;Telford v. Patton, 144 Ill. 611, 33 N. E. 1119;Hatch v. First National Bank, 94 Me. 348, 47 Atl. 908, 80 Am. St. Rep. 401;Phœnix Ins. C......
  • Feder v. Elliott
    • United States
    • Iowa Supreme Court
    • June 28, 1924
    ... ...           ... REHEARING DENIED SEPTEMBER 20, 1924 ...          Appeal ... from Buchanan District Court.--G. W. WOOD, Judge ...          ACTION ... on two certificates of deposit issued by the Farmers & Merchants Bank, of which the defendants are the ... Whitney, 20 ... Ill. 144; Galena Ins. Co. v. Kupfer, 28 Ill. 332; ... Marc v. Kupfer, 34 Ill. 286; Hunt v ... Divine, 37 Ill. 137; Wood v. Price, 46 Ill ... 435; Telford v. Patton, 144 Ill. 611, 33 N.E. 1119; ... Hatch v. First Nat. Bank, 94 Me. 348, 47 A. 908; ... Phoenix Ins. Co. v ... ...
  • National Acceptance Co. of America v. Pintura Corp.
    • United States
    • United States Appellate Court of Illinois
    • March 27, 1981
    ...of fact, the presumption is that the trial court found all issues and controverted facts in favor of the prevailing party. (Wood v. Price (1868), 46 Ill. 435; Notzke v. Art Gallery, Inc. (1980), 84 Ill.App.3d 294, 39 Ill.Dec. 860, 405 N.E.2d 839). Since lack of authorization to deal with th......
  • Mosher v. Rogers
    • United States
    • United States Appellate Court of Illinois
    • December 31, 1878
    ...277; Warrell v. Munn, 1 Seld. 229; Walker v. Crawford, 56 Ill. 445; Wimple v. Kesoph, 15 Minn. 440; Lane v. Sharpe, 3 Scam. 565; Wood v. Price, 46 Ill. 435; Emory v. Mohler, 69 Ill. 221; Merchants' Ins. Co. v. Morrison, 62 Ill. 242; Foy v. Blackstone, 31 Ill. 538; Snyder v. Griswold, 37 Ill......
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