Raegener v. Tynberg
New York Supreme Court
Action on capital stock note made by defendants. Motion by defendants for new trial on minutes after direction of a verdict in favor of plaintiff.
1Opinion of the CourtMcAdam, J.
The capital stock note sued on was made by the defendants and delivered to the Equitable Mutual Fire Insurance corporation on its incorporation, agreeably to the direction of the statute that it “ Shall remain as security for all losses and claims until the accumulation of profits invested as required by law shall equal the amount of the capital required to be possessed by stock fire insurance corporations,” etc. 2 R. S. (Banks’ 9th ed.) 1178, § 113. It was not the ordinary demand note, but one payable upon a contingency which happened when the plaintiff, as receiver, levied an assessment…
2Cases cited4 opinions
- Smith v. . KiddNew York Court of Appeals · 1877
- Fellows v. . NorthrupNew York Court of Appeals · 1868
- Central Trust Co. v. FolsomAppellate Division of the Supreme Court of the State of New York · 1898
- Raegener v. MedicusNew York Supreme Court · 1900