Adams
Adams v. Seaman
Opinion
Lead Opinion
McFarland, J.
This action was brought by plaintiff upon what he alleges to be a negotiable promissory note made.by defendant Seaman to the order of one O. S. Hub-bell, and indorsed and assigned by Hubbell to plaintiff before maturity. Seaman, in his answer, pleads as set-off certain debts due him from Hubbell before the assignment. Plaintiff demurred to this part of the answer, and his demurrer was overruled. After trial, the court allowed certain of these set-offs, and gave judgment for plaintiff only for the balance due on the note, after deducting the set-offs. Plaintiff appeals from the" judgment. The only question presented is, Was the instrument sued on a negotiable note?
The instrument would be negotiable, and in the hands of an indorsee before maturity not subject to any equities of the maker against the original payee, if it did not contain the following clause: “ Should suit be commenced or an attorney employed to enforce the payment of this note, I agree to pay the additional sum of five per cent on principal and interest accrued as attorney’s fees in such suit.” The court below held that this clause rendered the note non-negotiable-; and we think that the court was right in so…