Albany County Bank v. People's Co-operative Ice Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, The People’s Go-operative Ice Company, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the" county of Albany on. the 11th day of May,- 1903, upon the verdict of a jury for $1,050.97, and also from an order entered in said clerk’s office on the 19th day of May, 1903, denying the said defendant’s motion for a new trial made upon the minutes.
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Appeal by the defendant, The People’s Go-operative Ice Company, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the" county of Albany on. the 11th day of May,- 1903, upon the verdict of a jury for $1,050.97, and also from an order entered in said clerk’s office on the 19th day of May, 1903, denying the said defendant’s motion for a new trial made upon the minutes. This action is brought on a promissory note of which the following is a copy: “New York, May 20,1902. “ $1000. * * * Five months after date we promise to pay to the order of…
1Opinion of the Court
Chase, J.:
The question is presented by this appeal whether a bank which purchases in due course of business a promissory note of the payee therein named before maturity, and places the purchase price thereof to the credit of such payee and retains the same until after knowl*51edge that, there is an entire failure of consideration for the note as between the maker and payee thereof, can subsequently give to the payee the proceeds of the note and retain the right to insist that it is a holder for value and protected from any defense existing between said maker and payee.
The question is here free…
2Cases cited8 opinions
- Davis v. Elmira Savings BankSupreme Court of the United States · 1896
- New York County National Bank v. MasseySupreme Court of the United States · 1904
- Bank of the Republic v. MillardSupreme Court of the United States · 1870
- &198tna National Bank v. . Fourth National BankNew York Court of Appeals · 1871
- Scammon v. KimballSupreme Court of the United States · 1876
3 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Citizens' State Bank v. . CowlesNew York Court of Appeals · 1905
- Union National Bank v. WinsorSupreme Court of Minnesota · 1907
- Hurley v. Union Trust Co.Appellate Division of the Supreme Court of the State of New York · 1935
- Merchants National Bank of St. Paul v. Santa Maria Sugar Co.Appellate Division of the Supreme Court of the State of New York · 1914
- National City Bank v. WaggonerAppellate Division of the Supreme Court of the State of New York · 1930
9 more not listed; retrieve them via the Exa API.