BILLS AND NOTES-CONSTRUCTION OF NEGOTIABLE INSTRUMENTS AND CONTEMPORANEOUS WRITTEN AGREEMENTS

Authors

Ralph J. Isackson, University of Michigan Law SchoolFollow

Abstract

On April 12, 1938, M executed a demand promissory note, negotiable in form, payable to the order of his daughter, the plaintiff. Simultaneously M prepared and attached a written instrument to the note stating that the plaintiff agreed that she would not attempt to collect the note until M died. The attached instruments were delivered to plaintiff immediately after execution. M died May 23, 1945. Plaintiff, who held the instruments from the date of execution without making any demand for payment, filed the note with the defendant, M's administrator, as a claim against M's estate. The defendant objected to paying the note, and the probate court disallowed plaintiff's claim. The district court reversed, and defendant appealed. Held, for the plaintiff. The note did not become due and payable until M's death, since instruments executed at the same time as part of the same transaction become, in the eyes of the law, one instrument, and will be read and construed together. In re Holtorf's Estate, (Minn. 1947) 28 N.W. (2d) 155.

Recommended Citation

Ralph J. Isackson, BILLS AND NOTES-CONSTRUCTION OF NEGOTIABLE INSTRUMENTS AND CONTEMPORANEOUS WRITTEN AGREEMENTS, 46 Mich. L. Rev. 555 (1948).
Available at: https://repository.law.umich.edu/mlr/vol46/iss4/8