Bill of exchange. Acceptor. Denial of indorsement. Account stated. – Declaration by the executor of B. upon a bill of exchange purporting to be drawn by A. and accepted by the defendant, and indorsed by A. to B. ; with a count upon accounts stated. It appeared that A., who was possessed of goods, being the stock in trade upon his premises, died intestate, and indebted to the defendant and other persons ; and it was arranged between B. and the defendant, who were two of his next of kin, that the defendant should take possession of the goods and accept a bill of exchange for their value, purporting to be drawn and indorsed by A. The goods were accordingly delivered to the defendant, and the bill declared upon was drawn and indorsed to the plaintiff by procuration in the name of A., and accepted by the defendant.
Held: affirming the judgrtlerit of the Queen’s Bench ; that the defendant could not be allowed to set up as a defence to the action that the bill was not indorsed by A.-2. Semble. That the bill was evidence of an account stated.
Pollock CB said: ‘We all agree with the Court below that there may arise an estoppel by agreement, and that such an estoppel arises here. The parties agreed that the transaction should have this character, viz, that the defendant should appear to have bought the goods of John Peto, and that therefore the bill should be drawn and indorsed in the name of John Peto, and it was afterwards accepted by the defendant on the basis of that agreement. The defendant having accepted the bill after it had been drawn and indorsed in that name, and having promised payment of it, now says that it was not drawn and indorsed by John Peto; but he is estopped from doing so.’
Judges:
Pollock CB, Williams, Wills JJ, Bramwell and Channell BB
Citations:
[1864] EngR 575, (1864) 5 B and S 723, (1864) 122 ER 999
Links:
Citing:
See Aslo – Ashpitel (Executor of James Peto) v Bryan 1862
Defendant having accepted a bill drawn by procuration in the name of a person deceased, and handed it, indorsed in that name to a third party, held liable to that party ; and held no defence that the consideration was goods, assets of the deceased, . .
Affirmed – Ashpitel, Executor Of James Peto v Bryan QBD 20-Jan-1863
Estoppel. Bill of exchange. Acceptor. Denial of indorsement. – Declaration by the executor of B. upon a bill of exchange purporting to be drawn by A. and accepted by the defendant, and indorsed by A. to B. Plea, that A. did not indorse the bill. It . .
Lists of cited by and citing cases may be incomplete.
Contract, Estoppel
Updated: 02 May 2022; Ref: scu.282289
