Lalor v. Yetter
City of New York Municipal Court
Appeal from trial term. Action by William S. Lalor on a promissory note for $300, made by defendant, Andrew B. Yetter, to the order of J. Howard Burnham. The note, with $300 cash, was given by defendant to Burnham, for a carpet-beating machine, and a license for using the same within the territory bounded by the North and East rivers and 52d street on the south and 62d street on the north, in the city of New York.
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Appeal from trial term. Action by William S. Lalor on a promissory note for $300, made by defendant, Andrew B. Yetter, to the order of J. Howard Burnham. The note, with $300 cash, was given by defendant to Burnham, for a carpet-beating machine, and a license for using the same within the territory bounded by the North and East rivers and 52d street on the south and 62d street on the north, in the city of New York. Burnham claimed to be the sole agent of one Foster, the patentee of the machine. Upon receiving the $300 cash, and the note in suit, Burnham delivered to the defendant a license for…
1Per curiam
The application of the following settled principles of law requires the reversal of the judgment appealed from: .
1. Where a person is induced to sign or indorse a note by false representations, he is only liable to one who takes the note in good faith, and for a value. Hart v. Palmer, 12 Wend. 523; Stewart v. Small, 2 Barb. 559; Bank v. Diefendorf, 25 N. E. Rep. 402; Bank v. Green, 43 N. Y. 298. As a general rule, the indorsement of a negotiable note is, in itself, prima facie evidence that the indorsee has paid value for it, but when the payee has procured the note by fraud, this presumption…
2Cases cited12 opinions
- Coddington v. BayCourt for the Trial of Impeachments and Correction of Errors · 1822
- The First National Bank v. . GreenNew York Court of Appeals · 1871
- Lawrence v. . ClarkNew York Court of Appeals · 1867
- Moore v. . RyderNew York Court of Appeals · 1875
- Payne v. CutlerNew York Supreme Court · 1835
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3Cited by1 opinion
- Prince v. Never-Rip Jersey Co.City of New York Municipal Court · 1891