John Catron

“ The assumption, that the holder could lawfully demand damages, depends on the fact, whether the bill was foreign or inland; if foreign, then the bank had the right to redraw from New Orleans to Lexington, for such amounts as would make good the face of the bill, including principal, re-exchange and charges, with legal interest: the law does not insist upon actual redrawing; but the holder may recover the price of a new bill at the place of protest. ”

“ The statute, by force of which the bank claimed damages, declares: 'If any person or persons, shall draw or endorse any bill or bills of exchange upon any person or persons, out of this state, on any person or persons, within any other of the United States, of North America, and the same being returned back unpaid, with legal protest, the drawer thereof, and all others concerned, shall pay the contents of said bill, together with legal interest from the time said bill was protested, the charges of protest, and ten pounds per cent. ”

“ It is insisted the claim for damages comes within the statute; yet, if not within it, that respondents are entitled to equal damages with those given by the statute, their risk and loss being the same.
In bar of the claim, the respondents say that all the grounds of equity alleged in the bill, accrued to complainants more than five years next before the commencement of the suit, and are barred by the lapse of time; they further allege that the damages were liquidated, assented to, and discharged, more than five years next before the commencement of the suit ”

“ To which we respond decidedly in the negative.
Lastly, the appellants rest their defence on the statute of limitations. If the thousand dollars claimed as damages were paid to the bank, at the time the bill of exchange was taken up, then the cause of action to recover the money, (had it been well founded) accrued at the time the mistaken payment was made, which could have been rectified in equity, or the money recovered back by a suit at law. The courts of law and equity have concurrent jurisdiction; and the complainants having elected to resort to equity, which they had the right to do ”

“ Vexed as the question formerly was, and delicate as it now is, from the confusion in which numerous and conflicting decisions have involved it; no discussion of cases can be gone into without hazarding the introduction of exceptions that will be likely to sap the direct prineiple we intend to apply: indeed, the remedial power claimed by courts of chancery to relieve against mistakes of law, is a doctrine rather grounded upon exceptions, than upon established rules. ”

“ Griffing having died, and the note for seven thousand five hundred dollars not having been discharged, when due, the bank sued James Daniel, Cunningham, Henry Daniel, and Hanson, in the circuit court of the United States, for the district of Kentucky, and recovered a judgment at law, for the principal and interest; at what time does not precisely appear. ”

“ In 1827, the defendants to the judgment at law, filed their bill in equity, in the same court; and, after setting out the facts substantially, as above, further alleged-'they were advised the bank was not entitled to ten per centum damages, on said protested bill of exchange, inasmuch as the drawer and acceptor thereof both lived in Kentucky, at the date and maturity of said bill ”