Hanna v. Florence Iron Co. of Wisconsin
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered July 16, 1915, affirming a judgment in favor of plaintiffs entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion. The receivers did not assume the Florence iron ore contract.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered July 16, 1915, affirming a judgment in favor of plaintiffs entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion. The receivers did not assume the Florence iron ore contract. An equity-receiver has only such power as is conferred upon him by order of court; he has no power to assume contracts of the debtor defendant which extend beyond a reasonable period of his appointment. (Breed v. Glasgow Inv. Co., 92…
1Opinion of the Court
Hiscock, Ch. J.
This action was brought to recover damages for an alleged breach of a contract to deliver iron ore and we think that the judgment recovered therein must be reversed.
In 1907 the New York State Steel Company made contracts with the defendant and two other companies each of which provided for the sale to and acceptance by said steel company of at least 50,000 tons of iron ore during each of five consecutive years commencing with the opening of navigation in the year 1908. Performance of the contract and payment for ore by said Steel Company were guaranteed by one Spencer Kellogg.…
2Cases cited5 opinions
- United States Trust Co. v. Wabash Western Railway Co.Supreme Court of the United States · 1893
- Chicago Deposit Vault Co. v. McNultaSupreme Court of the United States · 1894
- Stokes v. . Hoffman House of New YorkNew York Court of Appeals · 1901
- Pardee v. . KanadyNew York Court of Appeals · 1885
- Stokes v. Hoffman HouseAppellate Division of the Supreme Court of the State of New York · 1899
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- Citibank, N.A. v. Nyland (CF8) Ltd.Court of Appeals for the Second Circuit · 1988
- Van Deusen v. BussmannSupreme Court of Missouri · 1939
- Manufacturers Trust Co. v. KelbyCourt of Appeals for the Second Circuit · 1942
- Elkind v. Chase National BankAppellate Division of the Supreme Court of the State of New York · 1940
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