Burnap v. . National Bank of Potsdam
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made September 6, 1882, which affirmed a judgment in favor of plaintiff, entered upon the report of a referee. This action was brought to recover damages for the alleged conversion of a $500 United States bond belonging to plaintiff. The material facts are stated in the opinion.
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Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made September 6, 1882, which affirmed a judgment in favor of plaintiff, entered upon the report of a referee. This action was brought to recover damages for the alleged conversion of a $500 United States bond belonging to plaintiff. The material facts are stated in the opinion. The renewal by Drake and the continuation of the bond as collateral was not payment, and if done without the authority of Burnap, the latter could have redeemed her bond and held Drake upon the…
1Opinion of the CourtDanforth, J.
On the 22d day of November, 1876, one Isaac Drake made a promissory note whereby for value received, as it recited, he promised to pay to his own order, $500 in ninety days from that date, at the National Bank of Potsdam. Be then indorsed, transferred and delivered it to one B. N. Burnap for a valuable consideration. On Burnap’s application and the security of a government bond of $500 which he deposited with the bank for that purpose, the defendant discounted the note and Burnap received the proceeds. On the 21st day of February, 1877, Drake, without the knowledge or consent of - Burnap,…
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