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1812.

Tuesday, Nov. 24th.

The defendant

on occasion of

there being a

great run upon

a banking house, went to

the bank and

told the holders

of notes issued by the bank, who were waiting for payment, that he had come to a resolution to support the bank with

30,000l., at which the holders then present were satisfied, and said they would take no more money than was necessary,

PHILLIPS against BATEMAN and Others.

In Error.

BATEMAN and others brought their action on the case in the Court of Common Pleas against N. Phillipps, and declared in the first count, that whereas before the making of the promise of the defendant, &c. C. A. Phillipps and T. Phillipps were carrying on the business of bankers, at a banking-house called the Milford and Pembrokeshire bank, at Milford, in the county of Pembroke, and as such bankers had made and issued divers promissory notes, payable to bearer on demand, which notes at the time of making the promise, &c. were outstanding in the hands of divers and very many holders, and were wholly unsatisfied by the said C. A. P. and T. P. and whereas the credit of the said C. A. P. and T. P. as such bankers, had become suspected, and their sufficiency doubted, whereof the defendant had notice, and was desirous of supporting and maintaining the credit of the said C. A. P. and T. P. as such bankers, and thereupon afterwards, on the 22d of March, 1810, in consideration of the premises and also in consideration that the plaintiffs at the request of the defendant would, among other persons of the public, accept and receive as current money such of the said notes then issued by the said C. A. P. and T. P. as such bankers, of and from the holders thereof, as might be that I do here- tendered to them in that behalf, the defendant underby undertake

and would keep

the rest of

their notes till they got again into currency; and afterwards

the defendant

signed the following written paper, "I do hereby authorize G. B. to assure the inhabitants of

Pembroke and

its vicinity,

to be account

able for the payment of the notes issued by the Milford Bank, as far as the sum of 30,000l. will extend to pay :" Held that the bank having afterwards stopped payment, the defendant was not liable upon this undertaking to an action by an individual holder, who had taken the notes after notice of such undertaking, but before the stoppage.

took

took and promised the plaintiffs to be accountable to such
of the public as were or should be holders of the said notes
so made and issued as aforesaid, for the payment of the
same, as far as the sum of 30,000l. would extend to pay.
And then the plaintiffs averred that they confiding in the
said promise of the defendant did, amongst other persons
of the public, afterwards, to wit, on the same day and
year aforesaid, and on divers other days, &c., accept
and receive as current money of and from sundry holders
thereof all such of the said notes so made and issued by
the said C. A. P. and T. P. as such bankers, as were
tendered to them in that behalf; the sums of money
payable by which notes so accepted and received by the
plaintiffs, in the whole amounted to 30007.; and al-
though the said C. A. P. and T. P. afterwards, and
while the plaintiffs held the said last-mentioned notes,
to wit, on the 28th of August 1810 became bankrupt,
and wholly unable to pay and satisfy the last mentioned
notes; of all which premises the defendant had notice;
and although the defendant had not since the making
of his promise, been accountable to such of the public
as were or became holders of the said notes so made
and issued as aforesaid for the payment of, or paid or
satisfied, so many of the said notes so made and issued
as aforesaid, as the sum of 30,000l. would extend to
pay, or any note whatsoever so made and issued by the
said C. A. P. and T. P. but hath therein wholly failed
and made default; and although the defendant was
afterwards requested by the plaintiffs to pay to them the
amount of the said sums made payable by the said notes
so by them accepted and received as aforesaid; yet the
defendant would not, when so requested, or at any
VOL. XVI.
- Bb

time

1812.

PHILLIPPS against BATEMAN.

In Error.

1812.

PHILLIPPS
against
BATEMAN.
In Error.

time afterwards, be accountable for the payment, nor did pay or satisfy the said notes so accepted and received by the plaintiffs, but refused so to do; whereby the said notes so accepted and received by the plaintiffs have been and still are wholly due and unpaid to them. The second count only differed from the first in these respects, that after making an additional recital that C. A. P. and T. P. as such bankers, had before the making of the defendant's promise, and until the suspicion of their credit aftermentioned, received credit as solvent and sufficient persons, and made and issued divers notes, &c. (as before) it stated the consideration and promise thus. In consideration of the premises, and also in consideration that the said several persons who were then or thereafter should become the holders of the said notes would give the same credit to the said C. A. P. and T. P. as such bankers, touching the said notes, as the said C. A. P. and T. P. had at any time before the said suspicion of their credit received, and would also consider and treat the said notes as good, the defendant promised such of the public severally and respectively as then were or thereafter should become the holders of the said notes to be accountable for the payment of the said notes as far as 30,000l. would extend to pay. And then the plaintiffs averred that they, at the time of making the defendant's promise, and before the insolvency of the said C. A. P. and T. P. became the holders of sundry of the said notes, to the amount of 3000l., and so continued to be and were until the insolvency of the said C. A. P. and T. P.; and that they, confiding in the promise of the defendant, did, from the making of the said promise until the insolvency of the said C. A. P. and T. P.

give

give the same credit to them as such bankers touching the said notes, as the said C. A. P. and T. P. at any time before the suspicion of their credit received, and did also consider and treat the said notes as good; and although the said C. A. P. and T. P. did afterwards, and while the plaintiffs were such holders of the said notes, to wit, on the 28th of August 1810 become insolvent, and wholly unable to pay and satisfy the said notes, &c. and so it concluded as in the first count. The third count, after reciting as in the first, that before the defendant's promise C. A. P. and T. P. were carrying on business as bankers, at Milford, and had made and issued divers promissory notes, for divers sums, payable to bearer on demand, of which very many persons were holders (proceeded) and whereas before and at the time of the defendant's promise the credit and sufficiency of the said C. A. P. and T. P. as such bankers, had become suspected, and were greatly doubted by divers and very many persons, as well holders of the said notes as others, and payment of divers sums of money due and owing by the said C. A. P. and T. P., as well upon and by virtue of certain promissory notes made and issued by them as such bankers, as otherwise, had been demanded of them by divers persons, and it was inconvenient to the said C. A. P. and T. P. forthwith to pay and satisfy, and they were unable forthwith to pay and satisfy the several promissory notes so made and signed by them, and which were outstanding and unsatisfied in the hands of divers persons; of all which premises the defendant had notice; and the defendant being desirous of supporting the credit of the said C. A. P. and T. P. and of promoting the currency and circulation of the said promissory notes so by them made and B. b 2 issued,

1812.

PHILLIPPS against BATEMAN.

In Error.

1812.

PHILLIPPS

against BATEMAN. In Error.

issued, did then and there, to wit, on, &c. make and subscribe a certain declaration or assurance in writing, touching the said notes, as follows: "I do hereby un"dertake to be accountable for the payment of the notes "issued by the Milford Bank, (meaning by the said "C. A. P. and T. P.) at their said banking-house called "the Milford and Pembrokeshire Bank, as far as the "sum of 30,000l. will extend to pay; which will be an "additional security to the public to that amount to the "estate and effects of Charles Allen Phillipps and "Thomas Phillipps, Esqrs. partners in the said bank. "(Signed) Nathaniel Phillipps." And the defendant did also then and there, to wit, on the same day, &c., and on divers other days, publish the contents in substance and effect of the said declaration or assurance in writing, to wit, at &c.: and then the plaintiffs averred that they, having notice of the said declaration or assurance of the defendant, and giving credit thereto, and relying on the faithful performance thereof, did afterwards, to wit, on the same day, &c. and on divers other days, &c. take and receive in payment from divers and very many persons, divers and very many of the said notes for payment of divers sums, amounting in the whole to a large sum, but less than 30,000l., to wit, to 30007. and did hold and keep the same without forthwith demanding payment thereof from the said C. A. P. and T. P.; and then the plaintiffs averred that the said C. A. P. and T. P. afterwards, and while the plaintiffs so had and held the said several last-mentioned notes in their possession, to wit, on the 25th of August 1810, became bankrupt and wholly unable to pay and satisfy the said notes, so made and issued by the said C. A. P. and T. P. whereby the plaintiffs could not nor can obtain from

the

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