Morrison Waite

“ As the case comes to us, the only question to be determined is whether what was done by John E. Carter and Terry, when Terry got possession of the note now held by Mrs. Burr, was a payment of the note by Daniels to Carter, through Terry, as the agent of Daniels, or a sale and transfer of the note by Carter to Terry. As to some of the facts connected with this transaction, there is a great conflict of testimony; but in respect to those which are to our minds controlling, there is but little, if any, dispute. ”

“ On the twenty-ninth of May, 1873, Joseph Daniels bought of John E. Carter certain parts of lots 1 and 24, in square 514, of the city of Washington, for which he paid $4,000 cash in hand, and gave his three promissory notes for $4,000 each, payable respectively in one, two, and three years from date, with interest at the rate of 8 per cent. per annum. The notes were secured on the property by a deed of trust to Dorsey E. W. Carter, trustee. When the first note fell due, in 1874, Daniels was unable to meet it, and John E. Carter, who then held it, pressed him for payment. ”

“ If not paid in three years the security could be enforced. The real point of difference is as to the understanding which Carter had of the transaction. Did he take the money supposing the note was thereby paid and canceled, or did he transfer the note to Terry to be held by him until paid by Daniels? Upon full consideration of the evidence we think it was the intention of Carter to transfer the note. He got his money from or through Terry, and not from Daniels, the maker of the note. ”