Van Ostrand v. Reed
New York Supreme Court
This was an action of assumpsit, tried at the Jefferson circuit in June, 1827, before the Hon. Nathan Williams, one 0f fhe circuit "judges, J ° On the 13th September, 1826, the plaintiffs bought of the defendants, who, together with one Ames, claimed to be possessed of the rights of the patentee, the exclusive right of . ° ... . . . _ constructing and vending, in six towns in the county ot Jetferson, a threshing machine invented by one James Hyde.
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This was an action of assumpsit, tried at the Jefferson circuit in June, 1827, before the Hon. Nathan Williams, one 0f fhe circuit "judges, J ° On the 13th September, 1826, the plaintiffs bought of the defendants, who, together with one Ames, claimed to be possessed of the rights of the patentee, the exclusive right of . ° ... . . . _ constructing and vending, in six towns in the county ot Jetferson, a threshing machine invented by one James Hyde. The plaintiffs, as the consideration of the purchase, gave to the * * , * defendants three negotiable notes, of $200 each, payable on the 1st day…
1Opinion of the Court
By the Court,
Savage, Ch. J.
The questions which I propose to consider are, I. Was the giving the notes equivalent *430to the payment of money 1 II. Was there fraud in the transaction of selling the patent right 1 and III. Was the action sustained upon either of the special counts ?-
I. There are cases, no doubt, where the giving a negotiable promissory note is equivalent to the payment of money. Thus, where a surety gave his own note, which was received in satisfaction of the debt of the principal, the surety recovered the amount of the note, as so much money paid for the use Of the principal.…
2Cases cited1 opinion
- Floyd v. DayMassachusetts Supreme Judicial Court · 1807
3Cited by43 opinions
- De Witt v. BerrySupreme Court of the United States · 1890
- Welz v. RhodiusIndiana Supreme Court · 1882
- Wylly v. S. Z. Collins & Co.Supreme Court of Georgia · 1851
- Blood v. GoodrichNew York Supreme Court · 1832
- McCray Refrigerator & Cold Storage Co. v. Woods & ZentMichigan Supreme Court · 1894
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