Fisher v. Sharpe
New York Court of Common Pleas
Appeal by defendants from a judgment of the Fifth Judicial District Court. This action was brought on a promissory note for $200, made by the defendants to the order of Pardee & Co., and by ■them indorsed over to the plaintiff.
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Appeal by defendants from a judgment of the Fifth Judicial District Court. This action was brought on a promissory note for $200, made by the defendants to the order of Pardee & Co., and by ■them indorsed over to the plaintiff. It appeared by the evidence that the defendants purchased :from the firm of Pardee & Co. the lease, stock and fixtures of -a grocery store, and gave the noté referred to in part payment of the consideration, which it was agreed that they should pay for the same. Pardee & Co. thereupon transferred it to the plaintiff, in part payment of a pre-existing debt, which they…
1Opinion of the CourtLoew, J.
It is well settled that in an action between the ■original parties to a promissory note, proof of the entire failure -of consideration will be a complete defense; but both the English and American authorities are very conflicting as to whether a partial failure of consideration may be shown for the purpose of reducing the amount sought to be recovered. The better opinion, however, as well as the more recent decisions, appears to be in favor of permitting it to be interposed as *215a good defense pro tcmto (Sawyer v. Chambers, 44 Barb. 42 ; Spalding v. Vandercook, 2 Wend. 431; Peden v. Moore, 1…
2Cases cited7 opinions
- Spalding v. VandercookNew York Supreme Court · 1829
- Lawrence v. . ClarkNew York Court of Appeals · 1867
- Burns v. RowlandNew York Supreme Court · 1863
- Sawyer v. ChambersNew York Supreme Court · 1865
- Bright v. JudsonNew York Supreme Court · 1866
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3Cited by4 opinions
- Skinner Engine Co. v. Old Staten Island Dyeing EstablishmentNew York Court of Common Pleas · 1895
- Harlem River Bank v. MeyerNew York Court of Common Pleas · 1892
- Treadwell v. LincolnNew York Supreme Court · 1889
- Union Foundry & Pullman Car Wheel Works v. New York Lumber Drying Co.City of New York Municipal Court · 1887