Titus v. President of the Great Western Turnpike Road
New York Court of Appeals
Appeae from order of the General Term of the Supreme Court in the third judicial department on the reversal of a judgment in favor of the defendant on the report of a referee, and granting a new trial.
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Appeae from order of the General Term of the Supreme Court in the third judicial department on the reversal of a judgment in favor of the defendant on the report of a referee, and granting a new trial. (Reported below, 5 Lans., 250.) This action was brought to recover damages for negligent and fraudulent acts of the defendant’s president and treasurer, in issuing spurious certificates of the stock of the company, on the faith and security of which the plaintiff loaned money to the party holding them. The referee, in his report, found as facts: First, that on or about December 19th, 1870, John…
1Opinion of the Court
Lott, Ch. C.
The referee placed his decision against the plaintiff ’s recovery on the ground that the general power given to the treasurer of the defendant to sign certificates of stock did not authorize him to sign those in his own name or favor, and that as such defect appeared on the face of the certificates, upon the credit of which the plaintiff advanced his money, he had notice of it when he took them, and therefore he could not recover. This the General Term held to be erroneous, and I think properly. The defendant was incorporated by an act of the legislature of this State (chapter…
2Cases cited2 opinions
- New York & New Haven Railroad v. SchuylerNew York Court of Appeals · 1865
- Claflin v. Farmers' & Citizens' Bank of Long IslandNew York Court of Appeals · 1862
3Cited by21 opinions
- Allen v. South Boston RailroadMassachusetts Supreme Judicial Court · 1889
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
- Bank of New York National Banking Ass'n v. American Dock & Trust Co.New York Court of Appeals · 1894
- McCord v. Western Union Telegraph Co.Supreme Court of Minnesota · 1888
- Bank of N.Y.N.B. Assn. v. . A.D. T. Co.New York Court of Appeals · 1894
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