Smith v. Capers

Decided January 15, 1852

Supreme Court of Arkansas · decided 1852-01-15

This was an action of assumpsit on a promissory mote for $432 50, alleged in the declaration to have been executed by Capers, the defendant, on the 3d day of January, 1845, payable to John McLemore, or order, on the 1st January, 1846, and endorsed by McLemore to Smith, the plaintiff, on the 13th August, 1845.

Good law ✅— No negative treatment on recordhow we know

Decided 1852-01-15

How this case has been cited

Cited by 7 later decisions — most recently March 1916

1 federal appellate · 6 state decisions

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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Mr. Justice Scott

¶1delivered the opinion of the Court.

¶2The question in this case as to the plea of partial failure of consideration, has been settled in the case of Wheat v. Dotson, 7 Eng. Rep.

¶3The remaining question involves the construction of the third section of our statute of assignment, (Dig. p. 182, sec. 3.) And we think that this statute, in so far as it provides for the negotiability of commercial paper, was but in affirmance of the law merchant, nevertheless, that the section in question, when considered in connexion with the first and the other portions of the enactment, is sufficiently broad to embrace not only the additional instruments made negotiable, but also paper negotiable by the law merchant; and must therefore be considered as changing the rule as to defences against such paper when negotiated before maturity.

¶4The pleas of payment and set-off were therefore good; and finding no error in the record, the judgment must be affirmed.