Watervliet Bank v. White
Court for the Trial of Impeachments and Correction of Errors
Motion by the plaintiff to set aside the report of referees. The action was upon a promissory note made by the defendant, dated the 18th day of January, 1840, for $2500, payable to the order of William J. Worth at the Watervliet Bank, sixty-five days after date. Tt was endorsed in blank by Worth and by E. Olcott, and had upon it a special endorsement in these words, “ Pay to E. Olcott, cashier, or order. E. C. Kendrick, cashier.”
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Motion by the plaintiff to set aside the report of referees. The action was upon a promissory note made by the defendant, dated the 18th day of January, 1840, for $2500, payable to the order of William J. Worth at the Watervliet Bank, sixty-five days after date. Tt was endorsed in blank by Worth and by E. Olcott, and had upon it a special endorsement in these words, “ Pay to E. Olcott, cashier, or order. E. C. Kendrick, cashier.” On the production of the note to the referees, it had upon it a mark which was proved to have been made by the cancelling hammer kept at the plaintiff’s bank, at the…
1Opinion of the Court
By the Court, Jewett, J.
Worth to whom, or order, the note in question was payable, endorsed it-in blank, as also did' Egbert Olcott, who borrowed the note of the defendant. Olcott procured it to be discounted in the usual course of business, by the Mechanics’ and Farmers’ Bank, according to the understanding between the parties when it was made, and received the proceeds. Although as' between the defendant and Worth and Olcott, the former had a right to be protected from its payment, by the two latter, it being made for their accommodation; yet the bank was a bona fide holder after…
2Cases cited1 opinion
- Gage v. KendallNew York Supreme Court · 1836
3Cited by25 opinions
- Baldwin v. Bank of NewburySupreme Court of the United States · 1864
- Bank of Genesee v. . Patchin BankNew York Court of Appeals · 1859
- The Bank of Genesee v. . the Patchin BankNew York Court of Appeals · 1855
- Zeigler v. His CreditorsSupreme Court of Louisiana · 1896
- Irving Bank of New York v. WetheraldNew York Court of Appeals · 1867
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