Sacket's Harbor Bank v. President of Lewis County Bank
New York Supreme Court
This was an action brought by the plaintiffs against the defendants on their guaranty, in writing, of certain inland bills of exchange, therein specified, amounting to $19,012,69, with all damages and costs that might arise or accrue by reason of the non-payment by the acceptors, or drawers, or indorsers, and waiving notice of demand and protest on any or all of said bills.
Read the full summary
This was an action brought by the plaintiffs against the defendants on their guaranty, in writing, of certain inland bills of exchange, therein specified, amounting to $19,012,69, with all damages and costs that might arise or accrue by reason of the non-payment by the acceptors, or drawers, or indorsers, and waiving notice of demand and protest on any or all of said bills. The declaration also contained counts for goods, wares and merchandise, sold by the plaintiffs to the defendants, to the amount of $25,000; the usual money counts, to the same amount in each, and also a count on an insimul…
1Opinion of the Court
By the Court,
King, J.
The 5th section of the plaintiff’s charter provides that said corporation shall not, directly or indirectly, deal or trade in buying or selling any goods, wares, merchandis'e, or commodities whatsoever, unless in selling the same, when truly pledged by way of security for debts due to the said corporation. The charter of the defendants contains a similar provision. It appears from the case, that the plaintiffs obtained the butter — the selling of which is held to constitute the illegality of their contract with the defendants — in settlement of a debt *215due them by Gordon &…
2Cited by5 opinions
- Argenti v. City of San FranciscoCalifornia Supreme Court · 1860
- State Board of Agriculture v. Citizens Street Railway Co.Indiana Supreme Court · 1874
- Steam Navigation Co. v. WeedNew York Supreme Court · 1853
- Union Water Co. v. Murphy's Flat Fluming Co.California Supreme Court · 1863
- Town of Verona v. PeckhamNew York Supreme Court · 1867