Pratt v. Coman
New York Court of Appeals
Appeal from the general term of the Supreme Court, in the first district, where a judgment entered in favor of the defendant, upon the report of a referee, had been affirmed. This was an action by Milo Pratt against Lucien D„ Coman, upon a promissory note for $3000, made by the defendant, on the 4th June 1869, payable six months after date to the order of one Agnew, and by him indorsed to the plaintiff.
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Appeal from the general term of the Supreme Court, in the first district, where a judgment entered in favor of the defendant, upon the report of a referee, had been affirmed. This was an action by Milo Pratt against Lucien D„ Coman, upon a promissory note for $3000, made by the defendant, on the 4th June 1869, payable six months after date to the order of one Agnew, and by him indorsed to the plaintiff. The answer set up the defence that Agnew, by false representations, induced Coman to buy certain stock in the iEtna Mining and Manufacturing Company, and that the defendant gave the note in…
1Opinion of the CourtMason, J.
(after • stating the facts.)—The plaintiff, upon • the conceded facts of this case, must be regarded, in law, a bona fide holder, for value, of the note upon which this action is brought.
I do not deem it importaht, to inquire, in this case, whether the receipt of the note in suit hy the plaintiff, and the surrender to Agnew of his note, to take up which this note was received by the plaintiff, was, under the facts, as found hy the referee, a discharge and satisfaction, or payment, of the debt of which the note surrendered by the plaintiff was the evidence. The general rule of presumption, it…
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