Legal Opinion
Updike v. Manufacturers Trust Co.
Appellate Division of the Supreme Court of the State of New York
Decided December 7, 1934PublishedCited by 5 opinions
1Opinion of the CourtMartin, J.
The trustees in bankruptcy of H. L. Stratton, Inc., as plaintiffs herein brought this action to recover the credit balance of the Stratton Company with the defendant, amounting to $10,188.47. The defendant converted this sum to its own use prior to Stratton’s adjudication in bankruptcy, and applied same against an unmatured note of $50,000. 'This occurred prior to the amendment of the Debtor and Creditor Law (§ 151, added by Laws of 1927, chap. 697) permitting the setoff of unmatured obligations. The answer admits the application of the Stratton balance, and claims the right to do so under a…
2Cases cited9 opinions
- Studley v. Boylston National BankSupreme Court of the United States · 1913
- Benedict v. RatnerSupreme Court of the United States · 1925
- Hatch v. Fourth National BankNew York Court of Appeals · 1895
- Frank v. . Mercantile National BankNew York Court of Appeals · 1905
- Fifth Nat. Bank of New York v. LyttleCourt of Appeals for the Second Circuit · 1918
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3Cited by5 opinions
- Gillman v. Chase Manhattan Bank, N. A.New York Court of Appeals · 1988
- Baldwin v. Peoples National Bank of TylerCourt of Appeals of Texas · 1959
- Jefferson County National Bank v. DusckasNew York Supreme Court · 1938
- Miles v. Bank of CommerceCivil Court of the City of New York · 1973
- Beverwyck Breweries, Inc. v. AdelsbergCity of New York Municipal Court · 1936