White v. . Kuntz
New York Court of Appeals
Appeal from order of the General Term of the Co nr of Common Pleas in and for the city and county of New York, made June 25, 1885, which affirmed an interlocutory judgment sustaining a demurrer to plaintiff’s complaint.
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Appeal from order of the General Term of the Co nr of Common Pleas in and for the city and county of New York, made June 25, 1885, which affirmed an interlocutory judgment sustaining a demurrer to plaintiff’s complaint. (Reported below, 13 Daly, 286.) This action was brought against the defendants, Joseph Kuntz, Louis F. Kuntz and Michael Kuntz, about the 1st day ot January, 1882, and an amended complaint therein was served in the latter part of March, 1884. The complaint alleges that at the commencement of the action and for five years prior thereto the plaintiff was a malster; that Joseph…
1Opinion of the CourtEarl, J.
It is a general rule of law that the acceptance of a lesser sum,- or an agreement to accept it, does not bar a demand for a greater sum. There is an exception to this general rule, however, in the case of a composition by a debtor with his creditors, in which they agree to accept less than their entire demands. Such an agreement, if entered into by a debtor with a number of his creditors, each acting on the faith of the engagement of the others, will be binding upon them, for each in that case has the undertaking of the rest as a consideration for his own undertaking. “Where creditors thus…
2Cited by25 opinions
- Hanover National Bank v. BlakeNew York Court of Appeals · 1894
- Morgan v. StruthersSupreme Court of the United States · 1889
- Gross, Kelly & Co. v. BiboNew Mexico Supreme Court · 1914
- Meyer v. . BlairNew York Court of Appeals · 1888
- Marshall v. BullardSupreme Court of Iowa · 1901
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