Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1863-06-10
-7~Hr ttst sssEow1 BY THE authorities re-

AT tttlst Is & By. the authorities re-
lied on 10y The appellant 10 that where q
Dote payable To order, has never been in
dorsed " the pas--. within the meaning
OF the law MERCHANT, tie legal tItle has not
passed, ADD I've equitie- between the origi-
nal par lies ar. nos cut oil. But no case
was cited ami ihlnk n,De can be found
10 show that tie maine of the payee, on
anot llerpaper attached 10 The note and
plainly intended To operate "a an lndorse-
meDt so far as 10 iransTer the title, would
not have that effect.
There are eases showing that al assign
ment OF u number OF notes at once, IN
separate paper, never attached teeitiIera
OF the notes or intended 10 be, IL not an
ndorsement In the law merchant. French
vs.. Turner, 18Th Ind, so; Hopkirk VS..
Page, ID Brocken brough, Al. But such
transfer is so widely different from the
present, and there was really SO little
ground To claim that it was an indorse-
ment, that while the correctness of these
decisions Is unquestioned, 1t Is equally
clear that they are not applicable here.
On the contrary, Chief Justice Marshal
based bis conclusion upon the isct that
the mode OF transfer there III question,
separates the " evidence of ownership
from the ball ITSELF" implying plainly that
the same conclusion would not be true
where this evidence WAS attached TO the
Lote, SO as to travel with it wherever it
might go.
l have pot deemed it necessary 10 enter
into any detailed examination OF authori
ties. | have stated the principles which
seem fairly to be derived from them, and
although no case is found where con-
tract precisely like this has been passed on,
1t seems TO he fully within those pr'nci-
pies. The rules OF the mercantile law are
based upon convenience. For this very
reason they do not harden SO as to impose
upon one age the mere shapes and forms
OF business which may have been In vogue
in another. This would be extremely In
convenient. Those rules are therefore
flexible and adapt themselves to the
changes OF progress and experience, so as
to be always founded on coLgenlence. No
better illustration OF this can be given
than is furnished by the history of nego-
table bonds like the one. in connection
with which this note was transferred.
Bonds and other sealed Instruments were
not negotiable within the law merchant.
They were always open TO any defence
existing between The original parties. But
III lIlS RtSdb lDCTtdSS Vi CO. pOfdStODs, WIZ
became borrowers in the money markets
of the world, it was found that their
bonds were performing the same functions
as negotiable paper, and that the interest
and convenience or the mercantile public
required that they be governed substan-
italy by the same rules. This rule has
accordingly been established. See opinion
of Justice Cole in Clark vs.. GAINESVILLE, 10
Wis. 1SS, and cases cited.
1t would be an extraordinary departure
from the spirit of those decisions, which
held that these bonds though in form not
within the law merchant, were yet within
It's reason and should be entitled to its
protection, if we should now hold that by
connecting one of them with a note which
was negotiable within the law merchant,
the latter should be taken out of it.
think the judgment should be affirmed.