| Drew v. Calder |
1778
|
Bill (Financial Instrument), Credit |
Thomas Calder died owing money to his brother-in-law, Charles Drew, and to Drew's brother, Robert. When Charles Drew went bankrupt, Robert Drew pursued John Calder of Davidstoun, brother of the late Thomas Calder, for sums owed. Lord Monboddo, the Lord Ordinary, ruled that John Calder was indeed liable for his brother's share of the debts, but Calder petitioned the Court of Session contesting this decision. He argued that the various bills granted by Thomas Calder to the Drew brothers were not for value received. Rather, he argued that these bills represented lines of credit that were never spent. Robert Drew answered that the bills were clearly given for value received, and that John Calder was merely trying to draw out the litigation process in order to postpone settling his brother's debts. |
