Claflin v. . Boorum
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 June 1, 1886, which affirmed a judgment in favor of defendants entered upon a verdict, and also an order denying a motion for a new trial made upon the minutes.
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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 June 1, 1886, which affirmed a judgment in favor of defendants entered upon a verdict, and also an order denying a motion for a new trial made upon the minutes. This action was brought upon two promissory notes for $5,881.92 each, dated respectively August 12 and August 26, 1882, made by the defendants under their firm name of “ Boorum & Pease,” and payable to their own order four months after date. The defenses interposed were fraudulent diversion and usury. Upon the…
1Opinion of the CourtVann, J.
The sale of accommodation paper is merely a loan of money, the purchaser being the lender and the seller the borrower. (Clark v. Sisson, 22 N. Y. 312, 316; Newell v. Doty, 33 id. 83, 85; Eastman v. Shaw, 65 id. 528, 530; Tiedemann v. Ackermem, 16 Hun, 307; 84 N. Y. 677; Miller v. Zeimier, 111 id. 441, 444.)
The notes in question had no legal inception when sold to Seney, and the transaction, therefore, was a loan by him to the defendants, through the agency of Follett. On or about the 5th of September, 1882, Seney, the lender, delivered $5,668.30 to Follett for the defendants, the borrowers,…
2Cases cited5 opinions
- Miller v. . ZeimerNew York Court of Appeals · 1888
- Powell v. WatersCourt for the Trial of Impeachments and Correction of Errors · 1826
- Miller v. HullNew York Supreme Court · 1847
- Clark v. . SissonNew York Court of Appeals · 1860
- Bennet v. D. Smith & PhelpsNew York Supreme Court · 1818
3Cited by25 opinions
- Hammelburger v. Foursome Inn Corp.New York Court of Appeals · 1981
- Seidel v. 18 East 17th Street Owners, Inc.New York Court of Appeals · 1992
- Sabine v. . PaineNew York Court of Appeals · 1918
- Schlesinger v. . GilhoolyNew York Court of Appeals · 1907
- Keim v. VetteSupreme Court of Missouri · 1902
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