Van Derveer v. Wright
New York Supreme Court
Motion to set aside the report of a referee. Oil the 2d of August, 1836, one James B. Reid made his promissory note as follows: “ Nine months after date, I promise to pay D. Wright or order, at the Montgomery County Bank, two hundred and fifty dollars value received, with interest. August 2, 1836. James B. Reid.” On the 28th September following.
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Motion to set aside the report of a referee. Oil the 2d of August, 1836, one James B. Reid made his promissory note as follows: “ Nine months after date, I promise to pay D. Wright or order, at the Montgomery County Bank, two hundred and fifty dollars value received, with interest. August 2, 1836. James B. Reid.” On the 28th September following. Wright, the payee, for a valuable consideration, transferred the note to John Van Derveer, senior, father of the plaintiff, and executed a guaranty in writing indorsed on the note, in these words : “ I guaranty the collectability of the within note to…
1Opinion of the CourtHand, J.
By the statute, {Laws of 1835, ch. 197,) an assignee “for a valuable consideration,” of a note, &c., here the assignor is dead, if there be no personal representatives of the assignor, or they refuse to sue, may sue in his own name. The assignment must be for a “ valuable consideration” to bring it within this act. The use of the word “ valuable,” in this place, no doubt was intentional, and has meaning. It was not intended to cover cases of mere gifts. Such a disposition of dead men’s estates should at least come to the notice of the executor or administrator. The difference between a…
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