Subject_1 BILL OF EXCHANGE. Subject_2 DIVISION IV.
Possessor's recourse against the Drawer and Indorser.
Subject_3 SECT. II.
Negotiation of Bill.
James Macadam v. Alexander Macwilliam
Date: 14 June 1787 Case No. No 171.
The drawer not entitled to require regular negotiation of such bills as are granted merely for his accommodation.
Bills pass by indorsation as well after as before protest.
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Certain bills drawn by Macwilliam, and accepted, were indorsed to Macadam, after Some intermediate indorsations, and after being protested. The acceptor having become bankrupt, the indorsee sued the drawer for payment; who, in defence,
Pleaded: 1st, The bills, after protest, could not be transferred by indorsation; and, 2dly, They have not been negotiated according to those rules which are established for the preserving of recourse.
Answered: 1st, During the whole of the statutory period, bills pass from hand to hand as bags of money; and it seems absurd to conceive, that their being protested should deprive them of this privilege. 2dly, Regular negotiation is not to be required of bills that, for the sole purpose of raising money to accommodate the drawer, have been accepted without value; such, in short, as are well known by the appellation of Wind-bills.
The Lord Ordinary reported the cause; and
The Lords repelled the above defences.
Reporter, Lord Stonefield.Act. Ross.Alt. Abercromby, Maconochie.Clerk, Home.
Fol. Dic. v. 3. p. 88. Fac. Col. No 334. p. 514.
