Ex parte Wallis
New York Supreme Court
THE relator and 11oiiey submitted their matters in difference to arbitrators by general arbitration bonds, in the penalty of $5000, conditionediu the usual form; agreeing that the bond and submission be made a rule of this court. The arbitrators, on the 9th of September, 1826, awarded that Ho11~y should give WaUis his (H.'s) promissory note at one year, indorsed by two persons named, for $13,614, with interest.
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THE relator and 11oiiey submitted their matters in difference to arbitrators by general arbitration bonds, in the penalty of $5000, conditionediu the usual form; agreeing that the bond and submission be made a rule of this court. The arbitrators, on the 9th of September, 1826, awarded that Ho11~y should give WaUis his (H.'s) promissory note at one year, indorsed by two persons named, for $13,614, with interest. The order making the submission, &c., a rule of this court having been served, and the $13,614 demanded of, and not paid by Holley, nor the note given, A motion was now made for an…
1Opinion of the Court
Curia.
The penalty of the bond has nothing to do with the power of the arbitrators.(a) For this they must look to the condition. The penalty may be wholly disregarded for any purpose of enforcing the award; and an action of debt brought upon the award itself, where it is for the payment of money.(b) The penalty is important only where the opposite party revokes the submission; and an action is brought to recover damages. There the bond must be made the direct foundation of the action. [1]
Motion granted.
а) It is otherwise of a verdict taken at the English nisi prius, to cover an award. The…
2Cases cited5 opinions
- Valentine v. ValentineNew York Court of Chancery · 1847
- Ott v. SchroeppelNew York Supreme Court · 1848
- Mitchell v. BushNew York Supreme Court · 1827
- Frets v. FretsNew York Supreme Court · 1823
- Bacon v. WilberNew York Supreme Court · 1823