Nelson v. Eaton
New York Court of Appeals
Appeal from the Supreme Court. Action to recover the amount of a promissory note for $681.25, dated August 3,1855, made by the defendant payable to the order of the Atlas Mutual Insurance Company twelve months after date.
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Appeal from the Supreme Court. Action to recover the amount of a promissory note for $681.25, dated August 3,1855, made by the defendant payable to the order of the Atlas Mutual Insurance Company twelve months after date. The complaint stated the making of the note by the defendant, and its delivery to the Atlas Mutual Insurance Company (the payees) —a corporation created and doing business under a special act of incorporation by the legislature of this State, passed April 10, 1843: that the plaintiffs, on the 15th of January, 1856, were constituted trustees of a special trust, by a written…
1Opinion of the CourtSelden, J.
The grounds on which the demurrer-was sustained in the Supreme Court are stated in the opinion as ■ follows : “ The trust instrument expressly specifying the terms on which the note came into the plaintiffs’ hands, as trustees, expressly giving them the right to sell, &c., but not to sue, the plaintiffs had no right to bring this action, as such trustees. There is no room for presumptions arising from their being the holders of the note, for they themselves set out the manner in which they hold it, and their rights over it. They had a right to sell it, without advertising, or otherwise giving…
2Cases cited9 opinions
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- Wheeler v. . NewbouldNew York Court of Appeals · 1857
- Considerant v. . BrisbaneNew York Court of Appeals · 1860
- Prindle v. . CaruthersNew York Court of Appeals · 1857
- Elwell v. DodgeNew York Supreme Court · 1861
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