East River Bank v. . Hoyt
New York Court of Appeals
.Appeal from judgment by the General Term of the Supreme Court of the 1st district. The action is upon a promissory note, made by the two defendants, Anson B. Hoyt and George Hoyt, copartners, of the firm of Hoyt & Brother, payable to the order of Belding Hoyt, another defendant, and indorsed by him and also by the other defendants, dated 22 June, 1861, payable at the People’s Bank. The note was discounted by the plaintiffs. The defense is usury.
Read the full summary
.Appeal from judgment by the General Term of the Supreme Court of the 1st district. The action is upon a promissory note, made by the two defendants, Anson B. Hoyt and George Hoyt, copartners, of the firm of Hoyt & Brother, payable to the order of Belding Hoyt, another defendant, and indorsed by him and also by the other defendants, dated 22 June, 1861, payable at the People’s Bank. The note was discounted by the plaintiffs. The defense is usury. The answer in substance alleges that the plaintiffs held a note of Hoyt & Brother, the makers, for one thousand dollars, past due, and which they,…
1Opinion of the Court
The General Term, in reversing the judgment below, proceeded upon the assumption that the ruling of the judge on the trial in admitting, as evidence, the statements of one of the directors of the plaintiff, was the only question in the case. In this view, I think, the General Term erred.
If the plaintiffs, in discounting the three notes, amounting to $1,500, imposed it as a condition, to the renewal of the overdue $1,000 note, that $500, the excess of the proceeds of the three notes, should remain as a deposit in their bank, until the note in question became due, and demanded the defendant's…
2Cited by8 opinions
- Planters National Bank of Virginia v. Wysong & Miles Co.Supreme Court of North Carolina · 1919
- State Bank v. Central Mercantile BankNew York Court of Appeals · 1928
- Penrose v. Canton National BankCourt of Appeals of Maryland · 1925
- Grundel v. Bank of CraigMissouri Court of Appeals · 1974
- Simsbury Fund, Inc. v. New St. Louis AssociatesAppellate Division of the Supreme Court of the State of New York · 1994
3 more not listed; retrieve them via the Exa API.