Shanghai, 13th Feb, Before (2, Frexen, Esq., Chief Justice, and G. A. Lixpsay, A. N. Brows, 'a. Wurre, Jurors, R. W. Croat, and he defendant ya that the promis.
ry note in the said referred to has cancelled, and all claim demands in respect Uereof have been satisfied and dise charged by him, 3.—And the defendant further 6 that in the month of April, 1877, he satisfied and dis charged the plaintiff's claim of Tis, 750, and interest thereon up to that date, by payment, and that he is not indebted to the plaintiff as alleged in the said petition, 4.—Save as herein appears the defendant the statements contained in the said 5. W, Cusventox v. F. A. Grooxt.
Mr. Mrpcnott appeared for the defendant, Mr. DowDALt appeared for the plainti This was an action to recover the sum of Pls, 750 alleged to be due on a promissory note.
Mr, Dowbant opened by reading the plead-
The petition of John How Cheverton, lately of Shay in Chin i he plaintiff is n British subject resi out of the jurisdiction of this Honourable Court.
2.—The defend sident within the juris able Court.
the 13th day of June, 1876, the plaintiff lent to the defendant the sum of dlefentant. then nmiade and handed to. the jangliai Taels 1,000 at his request, and the
plaintiff hie promissory note for the amount in the words following, that is to say, 13th June, 1876.
Cheverton, Ksq., or his order, the sum of one toe thousand taels, Shanghai sycee, (is. 1,000) for value received.
"Prascis A. Groox, "Tle, 1,000."
(which said promissory note is now in the plaintiff's possession), and the defendant also hypothecated to the plaintiff certain shares or share-certificates as collateral security for the due payment of such promissory note, and promised to pay the plaintiff interest upon the said eum of Taels 1,000, or s0 much thereof as might remain unrepaid, at the rate of ten per cent. per annum, until the aald sum should be wholly repaid.
'4.—The defendant duly paid the agreed interest upon the said sum of Taels 1,000 to the plaintiff, from the day of the date of the exid note up to the Ist day of November, 1876, on of about which latter time the de repaid to the plaintiff Tacks 250, being a portion of the stim of Taris 1,000. borrowed by him and covered by his said promissory note, and subsequently to such date and up to the dist day of December, 1876, the defend-paid interest to the plaintiff upon the reduced Loan of Taels 750. tition, Mr. Dowpaxt submitted that the burden of proof rested on the defendant, and that learned friend should therefore proceed with his case f Mr. Mynonom bad no objection to adopt this course, and in h i to the Jury entered into he ease with considerable minuteness, He pointed out that when the defendant paid the Ti. 250 to the plaintiff, us mentioned tition, he gave another promissory note the balance of is, 750, and fresh security, which he argued amounted to a cancellation of the first transaction, He contended that the second promissory note was a recession of the first, which could not now be sued upon, as to all intents and purposes it did not exist. If the plaintiff had claim at all ib was hot on the firat but on the second note, and that note he should prove had beau istled. He ten called his A. Grooxt deposed—I am the del On the 13th June, 1876, I gave te for Lis. 1,000. him a letter of hypothecat riy, wa security for the is, 1,000, ten shares in the Pootung Water Works, numbers 51 to 60 inclusive, That way given as a letter of security, The scrip of tne shares hypothecated is now produced. The reason it in my po tion is because I have obtained it purposely from the Company for use in this suit. OG the Lime of the transaction I was the registered holder of the shares. The loan remained disturbed antu the following November, when Mr. Cheverton wanted it to be paid. I hind several other money transactions with On the lst Octover, he asked me to Tis, 1,000, On that day came round to my offi out its repayment.
venient for me to repay it just which is embodied—" Chev. takes two shares Pootung Water Works at Tls. 125 each, ex October dividend, reducing loan from Tie, 1,000 to Tls. 750," for which new promissory note la to he given to 30th June, 877, at Ti. 10 per cent. interest, weurity being eight shares Pootung Water Works, which F. A. Groom has the opti of retiring at any time. Old lean of Tis, 1,000 to he paid up with interest to 3int Uetober, 1876.—(Signes) FA. 6." This memorandum was written by me in th presence of Mr, Cheverton, and it waa
Text read from the printed page and cleaned; old type leaves the occasional error.