United States Supreme Court
94 U.S. (4 Otto) 351 (1876)
The County of Sac (County) (defendant) issued bonds and coupons for interest, maturing at four different times, so that a courthouse could be built. The courthouse was never built. Samuel Smith, on behalf of Cromwell (plaintiff), had previously brought suit against the County, seeking to recover on early-maturing coupons. Cromwell had possessed the coupons, but did not prove in this previous suit that he had given value for them before they reached maturity. Therefore, the Court ruled in that case that Cromwell could not recover upon the coupons. Subsequently, Cromwell brought this suit against the County, seeking to cash in four different bonds and coupons for interest. Cromwell sought to introduce evidence in this case that he had paid value for the bonds before they reached maturity. The lower court ruled that Cromwell could not introduce that evidence because the previous judgment estopped him from doing so. Cromwell appealed.
Rule of Law
Holding and Reasoning (Field, J.)
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