Hannay v. Guaranty Trust Co.
U.S. Circuit Court for the District of Southern New York
At Law. Action by Anthony S. Hannay and others against the Guaranty Trust Company of New York. On demurrer to complaint.. The allegations of the complaint may be thus summarized: The plaintiffs carry on business in Liverpool, England. The defendant is a New York banking corporation. Knight. Yancey & Co. was a firm which formerly carried on business in buying and selling cotton in Alabama.
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At Law. Action by Anthony S. Hannay and others against the Guaranty Trust Company of New York. On demurrer to complaint.. The allegations of the complaint may be thus summarized: The plaintiffs carry on business in Liverpool, England. The defendant is a New York banking corporation. Knight. Yancey & Co. was a firm which formerly carried on business in buying and selling cotton in Alabama. On February 1, 1910, Knight, Yancey & Co. agreed to sell 100 bales of cotton to the plaintiffs, and on February 10th they drew on the Bank of Liverpool — the plaintiffs’ agent for the purpose — for the…
1Opinion of the CourtNoyes, Circuit Judge
(after stating the facts as above). There is no contention that the defendant in presenting the draft had knowledge of the spurious nature of the bill of lading, and the question presented is: Upon which of the two innocent parties, the plaintiffs or the defendant, should the loss fall? It is further conceded that if the draft in question had been a plain draft — i. e., if it had contained no reference to the cotton which the spurious bill of lading purported to represent — the plaintiffs could not recover. This concession is clearly required by the decisions of the Supreme Court in Hoffman…
2Cases cited4 opinions
- Goetz v. Bank of Kansas CitySupreme Court of the United States · 1887
- National Bank of Commerce of Boston v. Merchants' Nat. Bank of MemphisSupreme Court of the United States · 1875
- Hoffman & Co. v. Bank of MilwaukeeSupreme Court of the United States · 1871
- Guaranty Trust Co. v. GrotrianCourt of Appeals for the Second Circuit · 1902
3Cited by4 opinions
- United States v. Bank of New YorkCourt of Appeals for the Second Circuit · 1914
- Guaranty Trust Co. of New York v. HannayCourt of Appeals for the Second Circuit · 1913
- Parrish v. Taggart-Delph Lumber Co.Court of Appeals of Georgia · 1912
- Public National Bank & Trust Co. v. Garcia Sugars Corp.New York Supreme Court · 1939