Case ID: root_1/html/0354-01.html
Source: Caselaw Access Project
Author: {"author": "By the Court.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Collins v. Hubbard.
    The value of public securities are to be estimated at the time when payable, if no time is set, then they are dire presently and that is the time to estimate them.
    Action upon a note dated the 18th of March A. D. 1790 for £142 14s. state securities payable in coin on demand. Plea of full payment. Issue to the jury.
    The sole question was — What ought to be the rule by which to assess the damages; whether the value of the securities at the time of the contract — or at the time of commencing the suit, as no demand was made previous to that — or at the time of rendering the judgment.
   By the Court.

The value of securities is to be taken at the time when they are made payable, if any time is given for payment — but where no time is given, they are due presently; in that case the value is to be estimated at the time of the contract and the jury found accordingly upon second consideration.