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40 Ill. App. 613

Packer v. Roberts

Appellate Court of Illinois

Decided June 2, 1891

Appellate Court of Illinois · decided 1891-06-02

<p>Negotiable Instruments—Note—Practice—Insolvency.</p> <p>1. The legal title to promissory notes in this State, can not be transferred by a separate instrument.</p> <p>2. Interest upon a note due upon demand, begins to run from its date.</p> <p>3. It is proper to bring suit upon a note in the name of its payee for the use of his assignee, when he becomes insolvent after the receipt thereof.</p>

Cited by 1 later decisions — most recently January 1903

1 state decisions

Relies on Palmer v. Palmer · Barrett v. Hinckley · Wheeler v. . Warner

Good law ✅— No negative treatment on recordhow we know

Decided 1891-06-02

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Waterman, J.

¶1Appellant made his promissory note payable on demand for $5,000, to the order of M. T. Roberts & Co. Melville T. Roberts, who did business as M. T. Roberts & Co., afterward made, under the insolvency law, an assignment of all his property to O. D. Wetherell. Suit was brought upon the note, the declaration reading “Melville T. Roberts who sues for the use of O. D. Wetherell, assignee of Melville T. Roberts, insolvent.” Judgment was rendered against appellant for $5,232.40, and he has taken this appeal. The suit was properly brought in the name of the payee of the note.

¶2The legal title to promissory notes in this State can not be transferred by a separate instrument; Ryan v. May, 14 Ill. 49; Fortier v. Darst, 31 Ill. 215; Boynton v. Renwick, 46 Ill. 280-283; Badgley v. Votrain, 68 Ill. 25; Barrett et al. v. Hinckley, 124 Ill. 32; Chickering v. Raymond, 15 Ill. 362.

¶3It is objected that no demand having been shown, interest should not have been allowed. Interest upon a note due upon demand, begins to run from its date. Wheeler v. Warner, 47 N. Y. 519; Merrick v. Wolverton, 41 N. Y. 581-590; Palmer v. Palmer, 36 Mich. 487; Hill v. Henry, 17 Ohio, 9.

¶4The judgment was therefore for the proper amount, and is affirmed.

¶5Judgment affirmed.

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