Carnegie Trust Co. v. First National Bank
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered June 2, 1913, upon an order reversing a judgment in favor of plaintiff entered upon a verdict and directing a dismissal of the complaint. The nature of the action and the facts, so far as material, are stated in 'the opinion.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered June 2, 1913, upon an order reversing a judgment in favor of plaintiff entered upon a verdict and directing a dismissal of the complaint. The nature of the action and the facts, so far as material, are stated in 'the opinion. The certification of the check by defendant constituted a new and valid contract between plaintiff and defendant by which the defendant became indebted to the plaintiff to the amount of the check, and the drawer of the check was discharged. (Meuer v. Phœnix…
1Opinion of the CourtCardozo, J.
The plaintiff, the Carnegie Trust Company, is insolvent and in liquidation. It was closed by the superintendent of banks on January 7, 1911. One of its correspondents was the German National Bank of Cincinnati, Ohio. It had sent checks or drafts to that bank for collection. On January 5, 1911, the bank in Cincinnati had collected $2,953.92. To remit the proceeds, it sent the plaintiff its check for that amount drawn on the defendant, the First National Bank of the city of New York. It did not know at that time that the plaintiff was insolvent. When it made the remittance, it had on deposit…
2Cases cited24 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Reynes v. DumontSupreme Court of the United States · 1889
- Southwick v. First National Bank of MemphisNew York Court of Appeals · 1881
- Gillespie v. . TorranceNew York Court of Appeals · 1862
- Dambmann v. . SchultingNew York Court of Appeals · 1878
19 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- Whiting v. . Hudson Trust Co.New York Court of Appeals · 1923
- Banco Nacional De Cuba v. Chase Manhattan BankDistrict Court, S.D. New York · 1980
- Cochran v. MichaelsWest Virginia Supreme Court · 1931
- Dean v. Iowa-Des Moines National Bank & Trust Co.Supreme Court of Iowa · 1938
- McIntire v. RaskinSupreme Court of Georgia · 1931
26 more not listed; retrieve them via the Exa API.