The Sacketts Harbor Bank v. . Codd
New York Court of Appeals
Appeal "from the Supreme Court. Action against the defendant as the drawer of two bills of exchange, drawn on Duncan, Sherman & Co., of New York, and protested for non-payment. The plaintiff was an incorporated (safety fund) bank, located at Buffalo, and the defendant an individual banker under the general banking law, carrying on the business at the same place under the name of the Exchange Bank of Buffalo.
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Appeal "from the Supreme Court. Action against the defendant as the drawer of two bills of exchange, drawn on Duncan, Sherman & Co., of New York, and protested for non-payment. The plaintiff was an incorporated (safety fund) bank, located at Buffalo, and the defendant an individual banker under the general banking law, carrying on the business at the same place under the name of the Exchange Bank of Buffalo. The defence was, that the consideration of the bills of exchange was the sale by the plaintiff to the defendant of circulating notes of Canadian banks at a greater discount than that…
1Opinion of the CourtComstock, J.
The defendant, an individual banker under the general banking act of 1838, received from the plaintiff, an incorporated bank, two sums in Canada bank bills, one, of $3,400, on the 3d of November, 1864, at a discount of one-quarter of one per cent, and one three days after-wards of $1,700 at a discount exceeding that rate by a very minute fraction. In both instances the bills were received for the purpose of sending them to Canada for redemption, and this object was known to the plaintiff. At the time of each transaction the defendant gave a check on himself for the price of the bills, and the…
2Cases cited2 opinions
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- Tracy v. . TalmageNew York Court of Appeals · 1856
3Cited by18 opinions
- Irwin v. . CurieNew York Court of Appeals · 1902
- Manchester & Lawrence Railroad v. Concord RailroadSupreme Court of New Hampshire · 1889
- Gothard v. Alabama Great Southern R. R.Supreme Court of Alabama · 1880
- Laun v. Pacific Mutual Life InsuranceWisconsin Supreme Court · 1907
- In Re Estate of PetersonSupreme Court of Minnesota · 1950
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