Franklin National Bank v. Newcombe
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, Isaac B. Newcombe and another, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of New York on the 16th day of October, 1895, upon the verdict of a jury rendered by direction of the court after a trial at the New York Circuit.
1Opinion of the Court
Van Brunt, P. J.:
This action was brought to recover the balance due upon a promissory note for $20,000, to secure which certain stocks and bonds had been pledged as collateral. The note fell due upon the 15th day of August, 1893, and was not paid. Certain of the collaterals were sold in the open market by the consent of the defendant, and the sums realized thereon credited upon the note, and on the twenty-first of August there remained due upon said note the balance of $10,155, for the payment of which the plaintiff held certain col-laterals. By the terms of the note, upon non-payment at…
2Cases cited1 opinion
- Lewis v. GrahamNew York Court of Common Pleas · 1857
3Cited by2 opinions
- Muhlenberg v. City of TacomaWashington Supreme Court · 1901
- Strassburger v. Irving Trust Co.Appellate Division of the Supreme Court of the State of New York · 1941