Phelps v. . Borland
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, entered upon an order made at the September term, 1883, which overruled plaintiffs’ exceptions and directed judgment for defendant on a verdict. (Reported below, 30 Hun, 366.) This action was brought against defendant as the drawer of a bill of exchange, the substance of which and 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 first judicial department, entered upon an order made at the September term, 1883, which overruled plaintiffs’ exceptions and directed judgment for defendant on a verdict. (Reported below, 30 Hun, 366.) This action was brought against defendant as the drawer of a bill of exchange, the substance of which and the material facts are stated in the opinion. A holder of commercial paper has a right to make proof upon it against the maker or acceptor in bankruptcy, and, after receiving dividends, to collect the unpaid balance from…
1Opinion of the CourtFinch, J.
The defendant, a citizen of this country, drew a bill of exchange to his own order at sixty days’ sight upon Johnston & Co., who were English merchants residing in Liverpool. The defendant sold it to the plaintiffs, who were American bankers, residing in ¡New York. The bill was duly accepted by Johnston & Co., payable in London, who thereby, as to the plaintiffs,, became the principal debtors, the drawer being contingently liable upon their default and holding the position of a surety for the payment of their debt." The bill was protested for non-payment at its maturity, Johnston & Co. having…
2Cases cited4 opinions
- Baldwin v. HaleSupreme Court of the United States · 1864
- Edward's Lessee v. DarbySupreme Court of the United States · 1827
- Matter of Accounting of WaiteNew York Court of Appeals · 1885
- Gardner v. LeeNew York Supreme Court · 1852
3Cited by9 opinions
- Smith v. . MollesonNew York Court of Appeals · 1896
- Victrix Steamship Co. v. Salen Dry Cargo A.B.Court of Appeals for the Second Circuit · 1987
- Victrix Steamship Co. v. Salen Dry CargoCourt of Appeals for the Second Circuit · 1987
- Easton Furniture Manufacturing Co. v. CaminezAppellate Division of the Supreme Court of the State of New York · 1911
- Morency v. LandrySupreme Court of New Hampshire · 1919
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