Bank of Salina v. Babcock
New York Supreme Court
This was an action of assumpsit, tried at the Onondaga circuit in April, 1838, before the'Hon. Daniel Moseley, one of the circuit judges. The suit was brought against the maker and endorsers of a promissory note for 81500, at ninety days, dated 7th March, 1837, drawn by H. S. Gilbert, payable to L. Babcock, and endorsed by the latter and two mercantile firms, viz. Trowbridge &p Grant and J Sp H. Paddock.
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This was an action of assumpsit, tried at the Onondaga circuit in April, 1838, before the'Hon. Daniel Moseley, one of the circuit judges. The suit was brought against the maker and endorsers of a promissory note for 81500, at ninety days, dated 7th March, 1837, drawn by H. S. Gilbert, payable to L. Babcock, and endorsed by the latter and two mercantile firms, viz. Trowbridge &p Grant and J Sp H. Paddock. The note was discounted by the bank of Salina, on the 15th March, 1837, and the proceeds placed to the credit of Trowbridge Grant, on the books of the bank, with whom that firm had extensive…
1Opinion of the Court
By the Court,
Nelson, Ch. J.
There is no question in the-case, but that the plaintiffs received and discounted the note in good faith, and the only pretence of objection to the recovery was, that no value had been given, and hence the defendant Babcock should be at liberty to set up the diversion of the paper. This seems to have- been the view of the learned judge at -the circuit, though the charge is somewhat obscure. The answer to the objection, however, js, *501that the proceeds of the note were placed to the credit of Trowbridge &• Grant, for whom it was discounted; and were drawn out—not, I…
2Cited by38 opinions
- Goodman v. SimondsSupreme Court of the United States · 1858
- Jagger Iron Co. v. . WalkerNew York Court of Appeals · 1879
- Ph&338nix Insurance Company v. . ChurchNew York Court of Appeals · 1880
- Brown v. . LeavittNew York Court of Appeals · 1865
- Seneca County Bank v. NeassNew York Supreme Court · 1848
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