Union Bank v. . Sullivan
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the second judicial department, entered March 5, 1914, modifying by striking out the words “upon the merits” and affirming as modified a judgment in favor of defendants entered upon a a dismissal of the complaint by the court at a Trial Term.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the second judicial department, entered March 5, 1914, modifying by striking out the words “upon the merits” and affirming as modified a judgment in favor of defendants entered upon a a dismissal of the complaint by the court at a Trial Term. The superintendent of banks has taken possession of the business and property of the plaintiff, a banking corporation, and has brought this action as provided by law, in the name of the bank, to recover upon a promissory note. The defendants were stockholders and directors of the…
1Opinion of the CourtCuddeback, J.
The defendants contend that the note sued on was without consideration. It is difficult to frame a complete and accurate definition of what constitutes a sufficient consideration to support a contract, but this court has approved the following:
“A valuable consideration may consist of some right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suf: fered or undertaken by the other.” (Rector, etc., St. Mark's Church v. Teed, 120 N. Y. 583, 586.) I think there was evidence upon which the jury might have found that some benefit…
2Cases cited6 opinions
- Rector, Etc. v. . TeedNew York Court of Appeals · 1890
- Hurd v. . KellyNew York Court of Appeals · 1879
- Haddock, Blanchard Co. v. . HaddockNew York Court of Appeals · 1908
- Witherow v. . SlaybackNew York Court of Appeals · 1899
- Hope Mutual Life Insurance Co. v. . PerkinsNew York Court of Appeals · 1868
1 more not listed; retrieve them via the Exa API.
3Cited by34 opinions
- Holt v. FeigenbaumNew York Court of Appeals · 1981
- Farmers State Bank v. HaunWyoming Supreme Court · 1924
- Bay Parkway National Bank v. ShalomNew York Court of Appeals · 1936
- Cedar State Bank v. OlsonSupreme Court of Kansas · 1924
- Seth v. Lew HingCalifornia Court of Appeal · 1932
29 more not listed; retrieve them via the Exa API.