Phoenix Insurance v. Fiquet
New York Supreme Court
THIS was an action of assumpsit, brought against the defendant, as the endt¡rsor of a promissory note made by James Vidalot. A verdict was taken, by consent, in favour of the plaintiffs, for 3,532 dollars and 8 cents, subject to the opinion of the court on the following case. The note in question was delivered by Vidalot to the plaintiffs, to secure the premium of insurance upon a certain vessel, upon which the plaintiffs were insurers.
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THIS was an action of assumpsit, brought against the defendant, as the endt¡rsor of a promissory note made by James Vidalot. A verdict was taken, by consent, in favour of the plaintiffs, for 3,532 dollars and 8 cents, subject to the opinion of the court on the following case. The note in question was delivered by Vidalot to the plaintiffs, to secure the premium of insurance upon a certain vessel, upon which the plaintiffs were insurers. Before this note became payable, Vidalot, the maker, became insolvent; and then was, and yet is, largely indebted to the plaintiffs for notes, given for…
1Per curiam
The note in question was given for the r . premium of insurance; and it is admitted that the plaintiffs are not now entitled to so much premium as the note was given for. If they are bound to return part of the premium, they are not entitled to the face of the note. The consideration of a note may be inquired into between the original parties. The defendant may show that the note was given for more than the plaintiff is entitled to. (Colev. Gower, & East, 110.) The consideration for the note was the premium of insurance, and the only question is, what was the amount of that premium. If the…
2Cited by3 opinions
- Lamerson v. MarvinNew York Supreme Court · 1850
- Walker v. Smith, Robinson & Co.Supreme Court of Vermont · 1830
- Bowen v. NewellThe Superior Court of New York City · 1853