Utica City National Bank v. Gunn
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the fourth judicial department, entered July 7, 1915, reversing a judgment in favor of defendant entered upon a dismissal of the complaint by the court at a Trial Term and granting a new trial. The nature of the action and the facts, so far as material, are stated in the opinion. The guaranty relates to future loans and discounts and not to renewals of antecedent notes.
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Appeal from an order of the Appellate Division of the Supreme Court in the fourth judicial department, entered July 7, 1915, reversing a judgment in favor of defendant entered upon a dismissal of the complaint by the court at a Trial Term and granting a new trial. The nature of the action and the facts, so far as material, are stated in the opinion. The guaranty relates to future loans and discounts and not to renewals of antecedent notes. (Rudd v. Robinson, 126 N. Y. 113; Bank v. Dean, 154 App. Div. 869; Thayer v. Schley, 137 App. Div. 166.) The renewal of an old note does not constitute a…
1Opinion of the CourtCardozo, J.
This action is brought upon a guaranty signed by the defendant and others in the following form.: “ Articles of Agreement this 12th day of December, 1912, between The Utica City National Bank of Utica, Oneida County, State of New York, party of the first part, and the Utica Pipe Foundry Company, party of the second part.
“ Witnesseth: Whereas the Utica Pipe Foundry Company requires from time to time loans and discounts from the said party of the first part, and the said party of the first part requires security and guaranty for the payment of such loans and discounts so made, now we, John A.…
2Cases cited7 opinions
- Kenyon v. Knights Templar & Masonic Mutual Aid Ass'nNew York Court of Appeals · 1890
- Brown v. Marion National BankSupreme Court of the United States · 1898
- Rankin v. Fidelity Insurance, Trust & Safe Deposit Co.Supreme Court of the United States · 1903
- National Bank v. JohnsonSupreme Court of the United States · 1881
- Gates v. . McKeeNew York Court of Appeals · 1855
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3Cited by45 opinions
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- Becker v. Peter A. Frasse & Co.New York Court of Appeals · 1930
- Rhodes v. National Homes Corp.West Virginia Supreme Court · 1979
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