German-American Bank v. Niagara Cycle Fittings Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, the Niagara Cycle Fittings Company,, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Erie on the 30th day of March, 1896, upon the decision of the court rendered after a trial before the court without a jury at a Trial Term of the Supreme Court held in and for the county of Erie.
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Appeal by the defendant, the Niagara Cycle Fittings Company,, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Erie on the 30th day of March, 1896, upon the decision of the court rendered after a trial before the court without a jury at a Trial Term of the Supreme Court held in and for the county of Erie. This action was- begun- December 17, -1895, to recover of an indorser the remainder due on a promissory note.. January 17, 1895, the Hitchcock Manufacturing Company executed its promissory note, whereby it promised to pay to…
1Opinion of the Court
Follett, J.:
' The sole defense interposed is that the plaintiff, by extending the time to answer of the Hitchcock Manufacturing Company, the maker of the note, discharged the indorser, the defendant herein.
' This defendant indorsed and transferred the note to the plaintiff :for value, and when its liability became fixed by protest and notice, ¡it became an independent and principal debtor, and did not stand in ■the position of a mere surety for the maker of the note. (First National Bank v. Wood, 71 N. Y. 405, 411; Edw. Bills [3d ed.], § 765.) The holder of a promissory note owes the indorser…
2Cases cited4 opinions
- First National Bank v. . WoodNew York Court of Appeals · 1877
- Ducker v. . RappNew York Court of Appeals · 1876
- Smith v. . ErwinNew York Court of Appeals · 1879
- Steinbock v. . EvansNew York Court of Appeals · 1890
3Cited by4 opinions
- Pittsburgh-Westmoreland Coal Co. v. . KerrNew York Court of Appeals · 1917
- State of New Jersey v. LimburgNew York Supreme Court · 1907
- Astor Trust Co. v. FearonAppellate Terms of the Supreme Court of New York · 1917
- Pittsburgh-Westmoreland Coal Co. v. . KerrNew York Court of Appeals · 1917