Butterworth v. Peck
The Superior Court of New York City
This is an appeal by Zachary Peck and Nathaniel Terpenny, (the defendants,) from a judgment in favor of John F. Butter-worth, Receiver of the Island City Bank, (the plaintiff,) entered on a verdict rendered on a trial had before Mr. Justice Wood-ruff and a jury, March 10, 1859. The action is on a note for $1,000, dated July 16, 1857, made by Peck, and payable to the order of Terpenny three months after its date.
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This is an appeal by Zachary Peck and Nathaniel Terpenny, (the defendants,) from a judgment in favor of John F. Butter-worth, Receiver of the Island City Bank, (the plaintiff,) entered on a verdict rendered on a trial had before Mr. Justice Wood-ruff and a jury, March 10, 1859. The action is on a note for $1,000, dated July 16, 1857, made by Peck, and payable to the order of Terpenny three months after its date. The Bank discounted the note for Terpenny, and $280 of its proceeds were standing to Terpenny’s credit on the books of the Bank, when it become insolvent—he being a stockholder of the…
1Opinion of the Court
By the Court—Hoffman, J.
The only question presented to the Court relates to the check of $700, drawn by Mooney in favor of Terpenny upon the Bank, and transferred to Peck. Is this check, or the amount expressed in it, a proper set-off, or counterclaim, against the note sued upon ?
*343The case of Chapman v. White, (2 Seld., 412,) seems to me to cover the present question entirely. It involves the position that the Island City Bank became the owner of the fund deposited by Mooney, and the latter had only a right of action against that Bank, and was in truth its creditor. The check was not an…
2Cases cited3 opinions
- Dykers v. Leather Manufacturers' BankNew York Court of Chancery · 1845
- Ketchum v. StevensThe Superior Court of New York City · 1857
- Robertson v. WendellNew York Court of Chancery · 1837
3Cited by4 opinions
- Martin v. . Home BankNew York Court of Appeals · 1899
- Rosenthal v. Mastin BankU.S. Circuit Court for the District of Southern New York · 1879
- Comth. ex rel. Tower v. Thompson, Pennsylvania Court of Common Pleas, Schuylkill County1873
- In re SmithDistrict Court, S.D. Ohio · 1876