Davis v. . McCready
New York Court of Appeals
Appeal from a judgment of the New-York Common Pleas, The action was upon a bill of exchange: indorsees against acceptors. The bill was drawn by an agent of the defendants for part of the price of a brig, purchased by him as such agent, at Norfolk in Virginia.
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Appeal from a judgment of the New-York Common Pleas, The action was upon a bill of exchange: indorsees against acceptors. The bill was drawn by an agent of the defendants for part of the price of a brig, purchased by him as such agent, at Norfolk in Virginia. At the time of the purchase the brig was undergoing repairs at Norfolk, and the vendors to whom the bill was given agreed as a part of the bargain that they would complete them and make the vessel tight, staunch and strong in every respect and perfectly seaworthy. The defence was that this agreement had not been performed. The repairs…
1Opinion of the CourtDenio, J.
The sale of the brig and the executory agreement of the vendors to make the necessary repairs to render her seaworthy formed a good legal consideration for the acceptance of the bill. When, therefore, the plaintiffs at the time of receiving it were informed that it was accepted on that consideration, they were not notified of any fact which-impeached its validity or rendered it in any respect suspicious. If they had known nothing of the consideration upon which it was given they would nevertheless have been Iona fide holders, and they are not in a worse condition because they had been…
2Cases cited1 opinion
- Dowe v. SchuttNew York Supreme Court · 1846
3Cited by41 opinions
- DeLacy v. Hurst, Purnell & Co.Supreme Court of Georgia · 1889
- Title Guarantee Trust Co. v. . Pam.New York Court of Appeals · 1922
- Jennings v. ToddSupreme Court of Missouri · 1893
- Black v. Bank of WestminsterCourt of Appeals of Maryland · 1903
- Tradesmen's National Bank v. CurtisNew York Court of Appeals · 1901
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