Money offered at the current rate, after private knowledge of an act of Parliament lessening its value, found to be fraudulent.
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Wood being debtor to Baird in a sum, and hearing that on the 2d of June current, the Privy Council had by an act cried down the 40 shilling pieces from 44, (at which they had passed before) to their old standard of 40 pence; he that same night went and offered payment of the whole sum to his creditor in 40 shilling pieces; and he refusing to take them at their former rate, he took instruments on his offer, and gave in a bill of suspension, alleging he ought to be ordained to take them at the rate of 44, in regard the act was not proclaimed at the market-cross, (which is the only thing that puts the lieges in mala fide,) till the next day after his offer, and before proclamation the act was not obligatory nor binding.—— The Lords considered the design of promulgating these acts was to certiorate the lieges; so if they knew before that public intimation, that was sufficient to make his offer fraudulent; and so found the creditor was not bound to accept of his private knowledge and fraudulent design. Some urged his oath might be taken if he knew that the act was passed before his offer; but the Lords thought that needless, because his bill of suspension seemed to acknowledge as much.
Fol. Dic. v. 1. p. 332. Fountainhall, v. 1. p. 718.
