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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 28   View pdf image (33K)
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28 HIGH COURT OF CHANCERY.
ties which they have incurred, or may incur, on account of said
Hancock and Mann. This mortgage was acknowledged on the
day of its date, and recorded on the day following, to wit: the
17th June, 1846.
It further appears, that Lambert S. Norwood, of the said
firm of Dawson and Norwood, being at Cincinnati, in May,
1846, drew three bills of exchange on Hancock and Mann,
dated respectively, on the 2d, the 7th and 14th of that month,
amounting together to $7500, made payable to the order of
Dawson and Norwood, one at 60, and two at 90 days date,
which bills were accepted by Hancock and Mann, having been
previously indorsed by the said Lambert S. Norwood, of the
firm of Dawson and Norwood, in the name of the firm, and that
these bills were discounted by the plaintiffs and are now held
by them.
The original bill which makes all persons interested parties,
prays, among other things, for a sale of the mortgaged premi-
ses, for the payment of the debts secured by the several mort-
gages, according to the rights of the respective parties.
The complainants charge, that they purchased said bills for
a full and valuable consideration, without notice of any other
responsibilities, incurred by Dawson and Norwood, for, and on
account of Hancock and Mann, or of the existence of the said
mortgages; and that in equity, they have a right to be substi-
tuted for Dawson and Norwood, and are entitled to the benefit
of all the securities held by them, as indemnity against such
liabilities.
It was also alleged, and appears that prior to the maturity of
the bills held by the plaintiffs, Dawson and Norwood the in-
dorsers, and Hancock and Mann the acceptors, became, and
still remain insolvent, and utterly unable to pay their engage-
ments.
It further appears, that a very large amount of the promis-
sory notes of Hancock and Mann, indorsed by Dawson and
Norwood, were taken by the defendant, Samuel Jones, Jr.,
and were so taken by him in exchange for his own notes, which
were negotiated for account of Hancock and Mann, of which

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 28   View pdf image (33K)
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