Case ID: ky_58/html/0569-01.html
Source: Caselaw Access Project
Author: {"author": "JUDGE STITES", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

CASE 43 — PETITION ORDINARY
    JANUARY 28, 1859.
    Morrison & Co. vs. Tate.
    APPEAL FROM UNION CIRCUIT COURT.
    1. By the Revised Statutes, {chap. 22, sec. 11, page 194,) bills, drafts, or checks, payable in bank notes or currency, or other funds, wheresoever drawn or payable, shall bo deemed negotiable, and treated in all respects as if drawn for money, except as to the value of the currency in which they are payable.
    2. A bill of exchange payable “ in current exchange in Bank of Kentucky at Louisville, Ky.,” was declared on by payee against acceptor as a bill payable in money. Held — upon demurrer, that the variance was immaterial.
    3. Bill of exchange payable to A. J. M. & Co. Suit in the name of “ A. J. M. & Co.” is good on demurrer. It not appearing from the petition that there was more than one payee, or that A. J. M. & Co. was a firm consisting of more than one person, the defendant must show it, and he could then compel an amendment by motion.
    The facts sufficiently appear in the opinion of the court.
    T. N. and D. W. Lindsey for appellants—
    The petition in the name of A. J. Morrison & Co. is good upon demurrer. The sum to be paid was $625 45, or current exchange to that value, and judgment should have been rendered for that sum.
   JUDGE STITES

delivered the opinion of the court. (Judge Wood did not sit in this case.)

It is provided by the Revised Statutes, (chap. 22, sec. 11, p. 194,) that “bills, drafts, or checks, payable in bank notes or currency, or other funds, wheresoever drawn or payable, shall be deemed negotiable, and treated in all respects as if drawn for money, except as to the value of the currency in which they are payable.”

The bill sued on here is for $625 45, payable in current exchange in Bank of Kentucky at Louisville, Kentucky.” It was declared on as a bill for money. It comes within the class of paper provided for by the act supra, and should be treated as a bill of exchange. It is for a certain sum of money, payable in “ current exchange,” which terms signify, in commercial parlance, current funds — certainly funds of some kind.

The variance between the bill filed and that described in the petition was, in our opinion, immaterial, and certainly furnished no ground of demurrer. Neither was there apparent upon the face of the petition a defect of parties plaintiff. The bill was payable to A. J. Morrison & Co., and the suit was brought in that name. Whether there was more than one payee, or whether A. J. Morrison & Co. was a firm, consisting of more persons than one, does not appear from the petition. If such was the fact, it devolved upon the defendant to show it, and he then could have compelled an amendment by motion to that effect. To constitute a ground of demurrer, the defect of parties complained of should appear from the petition.

It seems to us that the petition disclosed a substantial cause of action, and that there was no valid ground of demurrer.

Wherefore, the judgment of the circuit court sustaining the demurrer is reversed, and cause remanded with directions to overrule the same, and for further proceedings not inconsistent with this opinion.