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Sir John Falconer v L. of Grant. [1682] Mor 526 (00 March 1682)
URL: http://www.bailii.org/scot/cases/ScotCS/1682/Mor0200526-065.html Cite as:
[1682] Mor 526
Subject_1 ANNUALRENT. Subject_2 ANNUALRENT due to CAUTIONERS, FACTORS, MANDATARS, TUTORS, &c. Subject_3 As a Recompence for advancing their own Money upon their Constiuent's Account.
Sir John Falconer v. L of Grant.
1682.
March. Case No. No 65.
Found, That an answered letter of credit, with the possessor's receipt thereon, did bear interest like a bill of exchange.
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Found that an answered letter of credit, with the possessor's receipt thereon, did bear annualrent, like a bill of exchange, from the time of the advancing of the money, though Major Grant, the receiver thereof, was dead, and the writer of the letter of credit had no prospect of relief; and that the letter of credit did not prescribe in twenty years, as a holograph missive letter, the same being of a date anterior to the act 1679, and not so many as twenty years elapsed since the act, (See Prescription Vicennial.)
Fol. Dic. v. 1. p. 44. Harcarse, (Bill of Exchange.) No 160. p. 35.
