Page:United States Reports, Volume 1.djvu/455

1789.
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I have no doubt, indeed, that many acts of Parliament, passed, not only before, but subsequent to the union of England and Scotland, have, by the fame means, been introduced and practiced upon in Pennsylvania; and as experience has proved such proceedings to be beneficial, so constant and uninterrupted usage has given them a legal existence, that cannot now be shaken or destroyed. But the indorsees of Promissory Notes, according to the best information which we can obtain, have never grounded their actions against the drawer, upon any other basis than the act of Assembly now under consideration; though, I think, the action by an indorsee, against the indorser, must be founded on the statute of Anne, and the usage under it, as no such action is given by the act.

The question, so far as it relates to the assignees of Bonds has been determined in the affirmative, in the Supreme Court of Pennsylvania, before the revolution. See ant. 23. And, as, on the one hand, the Legislature has made no difference whatever between the assignees of Bonds and the indorsees of Notes, so, on the other, we cannot discover any solid or good reason to introduce a distinction in the particular before us.

Upon the whole, we are unanimously of opinion, that the indorsee of a promissory Note, does take it, subject to all equitable considerations, to which the fame was subject in the hands of the indorser, the original payee. And, therefore,

THIS was an action of Covenant, and the circumstances under which it came before the Court, were these: The plaintiff filed a declaration in the following words;

Joseph Lynn, late of the county of Philadelphia, yeoman, was summoned to answer James Cummings, assignee of James Campbell, and Stephen Kingson, who were assignees of George Turner, of a plea that he hold with him the covenants and agreements of him the said Joseph with the said George made, according to the force, form, and effect of a certain deed thereof by him the said Joseph, with the said George made, &c. And thereupon the said James Cummings saith, that on the 6th day of February, in the year of our Lord, one thousand seven hundred and eighty-four, at the county aforesaid, a certain Nicholas Eveleigh, of the State of South-Carolina, by his certain obligation, or writing obligatory, sealed with his seal, and to the Court here shewn, whose date is the day and year aforesaid acknowledged himself or be held and firmly bound into a certain Lewis Lestargette, in the sum of three hundred and sixty-four pounds, twelve shillings, sterling money, in gold or silver specie at the rate of four shillings and eight pence to the dollar, or one pound one shilling and nine pence to the guinea, to be paid to the said Lewis, his certain