Mersick v. Alderman
Supreme Court of Connecticut
Action upon a promissory note, brought to and tried by the Superior Court in New Haven County, Oase, J.; facts found and judgment rendered for the plaintiff against all the defendants save Weinick, and appeal by them. One Freedman desired to purchase lumber of the W. A. Beckley Company, lumber dealers, and to establish with the company a present and continuing credit for purchases to be made forthwith and in the future. The company demanded references.
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Action upon a promissory note, brought to and tried by the Superior Court in New Haven County, Oase, J.; facts found and judgment rendered for the plaintiff against all the defendants save Weinick, and appeal by them. One Freedman desired to purchase lumber of the W. A. Beckley Company, lumber dealers, and to establish with the company a present and continuing credit for purchases to be made forthwith and in the future. The company demanded references. Instead, Freedman proposed to indorse over a good note as collateral security for any indebtedness he might incur. This being acceptable to…
1Opinion of the CourtPrentice, J.
The plaintiff is the indorsee and holder of the note in suit, of which the defendants are the makers. He is also the 'owner of the indebtedness which it was indorsed to secure. As such holder of the note, whether in due course or not, and such owner of the indebtedness, he has all the rights of the Beckley Company, through whom he holds. General Statutes, § 4228. The Becldey Company held the note as collateral security for such indebtedness to it as the payee thereof might incur upon a continuing credit extended to him. It was therefore a lien holder, and as such was both originally and at…
2Cases cited8 opinions
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- Reed v. First National BankSupreme Court of Colorado · 1897
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3Cited by15 opinions
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