McMullan v. Abbott

Decided December 15, 1859

Oregon Supreme Court · decided 1859-12-15

Jhrror to Josephine. Judgment was rendered in the court below in favor of James A. Abbott, against William McMullan, upon a promissory note, of which the following is a copy, to wit: ' “ On or before the 25th day of January, A. D. 1859, I promise to ‘pay A. Delany the sum of one hundred and seventy-five dollars, for value received. William McMullan.”

Cited by 1 later decisions — most recently July 1886

Good law ✅— No negative treatment on recordhow we know

Decided 1859-12-15

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Per Wait, O. J.

¶1It is insisted by McMullan, that he was entitled to days of grace upon this note, and this is the only question arising in the case. Suit was commenced on “ the 26th day of January, A. D. 1859and hence, if McMullan *259was entitled to days of grace, the demurrer was well taken, for the reason that the suit was prematurely brought.

¶2By the law merchant, if a promissory note was negotiable and payable on a day certain in the future, it was entitled to grace; if not negotiable, it was not entitled to grace. (Edwards on Promissory Notes, section 3, page 44.)

¶3Our statute is an affirmance of the law merchant in this respect.

¶4The note in question is not a negotiable promissory note, and grace could not be claimed upon it.

¶5The judgment below is affirmed.