Burrow v. Bank of Tennessee
Burrow v. Bank of Tennessee
Opinion of the Court
delivered the opinion of the court.
It appears from the record before us, that one Mitchell Smith, on the 15th January, 1840, drew a bill of exchange for the sum of fifteen hundred dollars, on the house of Yeatman & Co., payable in four months, in favor of one Calvin Thompson, who endorsed the same to one William Y. Webb, who endorsed the same to the complainant, of whom, upon his endorsement, it was purchased by the defendant, the Bank of Tennessee, at its Branch in the town of Trenton. The bill, not being paid or taken up at maturity, by any of the parties, was duly protested for non-payment, and all the parties thereto duly and legally notified. Suit was not brought till an early day in June, 1841; but the suit then brought was prosecuted to judgment against the. complainant and some of the other parties. The complainant filed this bill to enjoin the collection of the judgment, upon the ground that he is entitled, in equity, to be discharged from its payment, because he had requested and notified the holder, the Bank, to bring suit upon the bill, which, said holder, contrary to such request and notice, omitted and delayed to do, until the pecuniary circumstances of these parties to the bill primarily liable and to whom he looked for his indemnity, had greatly changed, and until they became insolvent. This ground of equity in the bill, the notice op request to sue, is expressly denied in the answer of the defendant. The ground of equity itself, for its legal foundation, rests upon the authority of the cases of Hancock vs. Bryant, 2 Yerger, and Thompson vs. Watson, 9 Yerger. The principle óf those cases, we now think, goes to the verge of the law; yet in each case, the facts upon which that principle was made to rest were free from all doubt or dispute whatever; the no
Let the decree of the chancellor be affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.