Buffalo Loan, Trust & Safe Deposit Co. v. Medina Gas & Electric Light Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, The Medina Gas and Electric Light Company and another, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Orleans on the 22d day of June, 1895, upon the report of a referee.
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Appeal by the defendants, The Medina Gas and Electric Light Company and another, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Orleans on the 22d day of June, 1895, upon the report of a referee. This action was brought to foreclose a mortgage executed by the Medina Gas Light Company to the plaintiff, as trustee, under date of September 15, 1886, upon allegations that the mortgagor had defaulted in the payment of the interest upon ten bonds, secured by the mortgage, which' bonds; it is alleged, were the property of the Germ…
1Opinion of the CourtGreen, J.
1. Contention is made hy appellants’ counsel that the mortgage in suit never having been personally delivered by Mr. Robertson, the president, and the bonds not having been negotiated by him, they never became binding obligations upon the mortgagor company;. that the bonds never had' a valid inception until they were negotiated in. the manner provided by the resolution authorizing their execution ;■ that the resolution required as condition precedent to the creation of any liability, that the president should negotiate the bonds upon the best possible terms; that the president must have ■been…
2Cases cited8 opinions
- Kent v. . Quicksilver Mining Co.New York Court of Appeals · 1879
- Kirby v. TallmadgeSupreme Court of the United States · 1896
- Cheever v. Pittsburgh, Shenango & Lake Erie RailroadNew York Court of Appeals · 1896
- Wilson v. Metropolitan Elevated Railway Co.New York Court of Appeals · 1890
- Williamsburgh Savings Bank v. Town of SolonNew York Court of Appeals · 1893
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3Cited by14 opinions
- Farmers' Loan & Trust Co. v. PiersonNew York Supreme Court · 1927
- Smith v. MooreCourt of Appeals for the Ninth Circuit · 1912
- In re the Estate of SteinbergNew York Surrogate's Court · 1934
- Wofford v. WoffordSupreme Court of Florida · 1937
- Swiggett v. Swiggett, Inc.Supreme Court of Puerto Rico · 1939
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