AI-assisted research summary: After two years from maturity, a person recovering on a lost instrument may recover without posting the bond required by §§ 24-8-104 and 24-8-105.
The person recovering on such lost instrument may, however, after the lapse of two (2) years from the maturity of such instrument, enforce such person's recovery without giving the bond prescribed in §§ 24-8-104 and 24-8-105 , in which case, the person from whom the recovery is had, may plead the judgment in bar of an action by the actual holder of such lost instrument. Code 1858, § 3905 (deriv. Acts 1851-1852, ch. 86, §§ 1, 2); Shan., § 5698; Code 1932, § 9884; T.C.A. (orig. ed.), § 24-806. Textbooks. Tennessee Jurisprudence, 18 Tenn. Juris., Lost Instruments and Records, § 7. NOTES TO DECISIONS 1. In General. 2. Costs. 1. In General. Where the owner of a lost certificate of deposit construed to be payable on demand, made demand for payment more than two years before the judgment thereon, such owner is entitled to recover without presentation of the certificate, and without executing to the bank an indemnity bond to secure it from loss, if the certificate appears in other hands. The defendant may plead the judgment in bar of the action by the actual holder of such lost instrument. Easley v. East Tennessee Nat'l Bank, 138 Tenn. 369, 198 S.W. 66, 1917 Tenn. LEXIS 42, L.R.A. (n.s.) 1918C689 (1917). 2. Costs. In a suit on a lost certificate of deposit, where the litigation was rendered necessary by the carelessness of the complainant or her deceased husband, the defendant bank acting in good faith throughout, and only desiring to be protected, the costs were properly taxed to the complainant, though she was permitted to recover without giving indemnity bond. Easley v. East Tennessee Nat'l Bank, 138 Tenn. 369, 198 S.W. 66, 1917 Tenn. LEXIS 42, L.R.A. (n.s.) 1918C689 (1917).