Elledge v. Straughn
Elledge v. Straughn
Opinion of the Court
delivered the Opinion of the Court.
This was an action by petition and summons, brought in the name of Straughn, on a note for $250, payable to him. The defendants pleaded that by endorsement on the note Straughn had, on the 9th of March, 1839, assigned $164 25 thereof to Jesse Barnet, and that by a simij lar endorsement he had, on the 16th of December, 1839, assigned “the residue of the note, being $85 75,” to E. L. Shackleford, and makes profert of said endorsement. A demurrer to this plea having'been sustained and a judgment rendered for the plaintiff, the only question presented for the decision of this Court is, whether the right of action remained in Straughn, notwithstanding these assignments.
It is well settled that a partial assignment does not pass the legal title or right of action, but that they remain in the original payee, who, to the extent of the interest assigned, must be regarded as holding the title in trust for the assignee; and although the payee might, notwithstanding such partial assignment, pass the entire legal title to a third peison, who would also hold in trust for the first assignee, to the extent of his interest, this could only be done bywords indicating an intention to pass the entire note, or the entire legal title to it. But the last assignment in the present case not only does not indicate
The case of Bledsoe vs Fisher, 2 Bibb, 471, has been referred to in support of an opposite conclusion; but there is this -obvious distinction between that case and this: there a credit having been entered on the note, the assignment of “the balance” of the note evidently excluded only the sum which had been paid and credited, and included all that remained due and demandable on the note; it was substantially an assignment of the entire demand, and of the entire note by which it was evidenced; and it would have been a technical construction, contrary to the manifest intention of the parties, and not required by any interest of either of them to consider it as a partial as
Wherefore, the judgment is affirmed.
Reference
- Full Case Name
- Elledge, &c. v. Straughn
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- Published