Page:United States Reports, Volume 1.djvu/452

 

SUPREME COURT of Pennʃylvania :

September Term, 1789.

HIS was an action brought by Hugh M‘Cullough, as affignee of Samuel Young, upon a promiffory note drawn by John H.Houʃton ; and, on the trial of the caufe, a verdict was given for the Plaintiff, fubject to the opinion of the Court on the following point:

“Whether the indorfee of a promiffory note, makes it fubject to all equitable confiderations, to which it was fubject, in the hands of the indorfer, the original payee?” And, if the opinion of the Court was in favor of the Defendant, a new trial was to be awarded.

The point was argued at the laft term, before all the Judges, by Sergeant, for the Plaintiff, and Ingerʃol, for the Defendant.

For the Plaintiƒƒ, it was obferved, that in the act of Affembly making bonds and notes negotiable, there is no provifion enabling the promiffee, or drawee, to bring an action on the note itfelf ; 1 State Laws 77. that fuch an action did not lie at common law ; and, confequently, that wherever it has been brought in Pennʃylvania (which is in numerous inftances) the proceeding muft have been founded on the ftatute of 3 and 4 Ann.c. 9. and the law of merchants. That ftatute, therefore, muft be confidered as extended in practice to this country before the revolution ; and a legiflative fanction is given to the practices by the act of Affembly, which declares, that fuch parts of the ftatute law of England as were heretofore in force, fhall ftill be binding in Pennʃylvania. 2 State Laws 3. On the affignment itfelf the affignee cannot bring an action againft Rh