Western Reserve Bank v. Potter
New York Court of Chancery
This bill is filed specifically to foreclose a mortgage executed by the defendant to Hiram Pratt, and by Pratt assigned to the complainants. But the answer and proofs embrace other matters and show substantially the following facts: Benjamin Rathbun of Buffalo, previous to his failure, had put in circulation a large amount of commercial paper with forged endorsements.
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This bill is filed specifically to foreclose a mortgage executed by the defendant to Hiram Pratt, and by Pratt assigned to the complainants. But the answer and proofs embrace other matters and show substantially the following facts: Benjamin Rathbun of Buffalo, previous to his failure, had put in circulation a large amount of commercial paper with forged endorsements. Among them were two drafts, one drawn upon H. Janes, and excepted by him, for $4,000, and one drawn upon J. Gravier, not excepted by him, for £$4,000. These two drafts the complainants -held. Rathbun failed in August, 1836, and…
1Opinion of the Court
The Vice Chancellor.
There are many points made in this cause; and the importance of the case renders it necessary and proper that they should be examined seriatim.
A point was made on the argument, that the charter of the complainants was not sufficiently proved; and that if proved, it did not authorise the complainants to invest their funds in the purchase of bonds and mortgages. In the written points furnished to the court, I do not find this point presented, and, moreover, I do not find among the papers the copies of the complainants’ charter and its renewal, which were read on the hearing.…
2Cases cited7 opinions
- Cram v. HendricksCourt for the Trial of Impeachments and Correction of Errors · 1831
- Eagle Fire Co. v. LentNew York Court of Chancery · 1837
- Pennington v. TownsendNew York Supreme Court · 1831
- De Groot v. Van DuzerNew York Supreme Court · 1838
- Ward v. Van BokkelenNew York Court of Chancery · 1830
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3Cited by1 opinion
- Morris v. SlateryThe Superior Court of New York City · 1857