Nelson v. Eaton
New York Court of Appeals
Appeal from a judgment. This action was brought by Thomas S. Nelson and James S. Sturges, trustees, against James Eaton, upon a note payable to the order of the Atlas Mutual Insurance Company, for §681.25. The complaint set forth the making of the note, and that the plaintiff’s obtained title to the same as indorsees, pursuant to the following instrument: “ We, the undersigned, agree to and with each other, and with the Atlas Mutual Insurance Company, that we will lend our…
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Appeal from a judgment. This action was brought by Thomas S. Nelson and James S. Sturges, trustees, against James Eaton, upon a note payable to the order of the Atlas Mutual Insurance Company, for §681.25. The complaint set forth the making of the note, and that the plaintiff’s obtained title to the same as indorsees, pursuant to the following instrument: “ We, the undersigned, agree to and with each other, and with the Atlas Mutual Insurance Company, that we will lend our notes to the amount of §5,000 each to said company, and will indorse each other’s paper so given to an equal amount, on…
1Opinion of the CourtSeldbn, J.
The grounds on which the demurrer was sustained in the Supreme Court are stated in the opinion as follows. “ The trust instrument expressly specifying the terms on which the notes came into the plaintiffs’ hands as trustees, expressly giving them the right to sell, &c., but not to sue, the plaintiffs had no right to bring this action as such trustees. There is no room for presumptions, arising from their being the holder's of the note, that they themselves set out the manner in which they hold it and their rights over it. They had a right to sell it without advertising, or otherwise giving…
2Cases cited7 opinions
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- Elwell v. DodgeNew York Supreme Court · 1861
- Eno v. . CrookeNew York Court of Appeals · 1854
- Gillet v. . PhillipsNew York Court of Appeals · 1855
- Bank of Chenango v. OsgoodNew York Supreme Court · 1830
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