Legal Opinion · Concurrence
Mohawk National Bank v. Schenectady Bank
New York Supreme Court
Decided May 8, 1894Published
Appeal from judgment on report of referee. Action by the Mohawk National Bank of Schenectady against the-Schenectady Bank to compel a transfer of stock. There was a judgment in favor of defendant, and plaintiff appeals. ' Affirmed.
1ConcurrenceHerrick, J.
I concur upon the ground that the plaintiff is not a bona fide holder for value of the stock in question. The assignment of such stock was made to the plaintiff to secure the payment of an antecedent debt. The plaintiff parted with nothing of value upon the faith or credit of the stock. Upon the other questions in the case it seems to me that the principle in the case of Knox v. American Co., 74 Hun, 483, 26 N. Y. Supp. 482, applies.
2Cases cited1 opinion
- Knox v. Eden Musee American Co.New York Supreme Court · 1893