Hart v. Palmer
New York Supreme Court
This was an action of assumpsit, tried at the Monroe circuit in October, 1832, before the Hon. Addison Gardiner one of the circuit judges. The defendant was sued as the endorser of a promissory note for $1000, bearing date 31st March, 1831, made by Josiah Bissell, junior, payable six months after date at the Bank of New-York.
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This was an action of assumpsit, tried at the Monroe circuit in October, 1832, before the Hon. Addison Gardiner one of the circuit judges. The defendant was sued as the endorser of a promissory note for $1000, bearing date 31st March, 1831, made by Josiah Bissell, junior, payable six months after date at the Bank of New-York. The note was endorsed by the defendant for the accommodation of the maker, who, on the seventh day of the same month of March, had sent the note to the defendant, requesting him to endorse it, saying he would make it payable at Rochester or east, and get the money on it…
1Opinion of the Court
By the Court,
Nelson, J.
The plaintiffs cannot recover. Their rights are no greater than those of the firm of Ford, Bissell & Co., for whose benefit they were to collect the note, and to whose credit they were to apply the proceeds. Ford; Bissell & Co., could not sustain an action against the defendant. Bissell, the maker of the note, in his letter of the 7th March, represented himself and firm in a prosperous condition as to business, by way of inducement to the defendant to endorse his paper; and the case shows that his firm was wholly insolvent at the time, and have so remained ever since.…
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