Smith v. Schanck
New York Supreme Court
Appeal by the defendant from a judgment entered upon the report of a referee. The complaint alleged that on the 25th of August, 1849, the defendant made and delivered to one Peter S. S. McNeil his promissory note for $74, payable on the first day of January thereafter. That on the '10th day of July, 1852, said McNeil transferred said note to the plaintiff, and that the plaintiff was the owner of the note at the time of the commencement of this action.
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Appeal by the defendant from a judgment entered upon the report of a referee. The complaint alleged that on the 25th of August, 1849, the defendant made and delivered to one Peter S. S. McNeil his promissory note for $74, payable on the first day of January thereafter. That on the '10th day of July, 1852, said McNeil transferred said note to the plaintiff, and that the plaintiff was the owner of the note at the time of the commencement of this action. The note was transferred by the following indorsement: “ July 10,1852. For value rec’d, I guarantee the payment of the within note. P. S. S.…
1Opinion of the Court
By the Court, T. R. Strong, J.
The decision of the referee,
overruling the motion for a nonsuit, was correct. It was admitted by the defendant, both in his answer and at the trial, that he executed the note upon which the action was brought, and which was given in evidence by the plaintiff; and the proof of the signature of the payee, to the guaranty indorsed on the note, was sufficient. As the note was negotiable by delivery merely, and the guaranty was for value received, as expressed therein, the possession of the note by the plantiff was prima facie evidence that the plaintiff owned it,…
2Cases cited1 opinion
- Brisbane v. PrattNew York Supreme Court · 1847
3Cited by5 opinions
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- Taylor v. SurgetNew York Supreme Court · 1878