Risley v. Smith
The Superior Court of New York City
Verdict for plaintiff, and exception ordered to be heard in the first instance at general term. The complaint averred that a contract was entered into by the defendants and an Indiana Railroad Company, by which the former agreed to construct for the latter its road, for certain moneys to be paid by the latter from time to time.
Read the full summary
Verdict for plaintiff, and exception ordered to be heard in the first instance at general term. The complaint averred that a contract was entered into by the defendants and an Indiana Railroad Company, by which the former agreed to construct for the latter its road, for certain moneys to be paid by the latter from time to time. That afterwards, while the contract was in force, the defendants, for a valuable consideration, drew a written draft or order on the company, directed to its president, in the words following, viz. : “New York, July 13, 1867. “$5,000. “For value received pay to the…
1Opinion of the Court
By the Court.—Sedgwick, J.
In Alger v. Scott, 54 N. Y. 14, the commission, of appeals held, that an order to pay out of a specified fund, viz., rent to grow due from the drawee to the drawer, such order being accepted, did not in the absence of a consideration, make the payee of the order, an equitable assignee of the rent, it having fallen due ; and that the ord er being given to secure an antecedent indebtedness due by the husband of the drawer to the payee, was not sufficient consideration. Commissioner Earle dissented. We are not in this case called on to consider what the rights of the…
2Cases cited4 opinions
- Van Alstine v. WimpleNew York Supreme Court · 1825
- Alger v. . ScottNew York Court of Appeals · 1873
- Hall v. City of BuffaloNew York Court of Appeals · 1864
- Silvernail v. ColeNew York Supreme Court · 1852