First National Bank v. Story
New York Supreme Court
Action against defendant as one of six sureties upon a bond given to the plaintiff for the benefit of the Waterloo Organ Company, January 31,. 1901. The following is a copy of the bond: “Wheeeas, the Waterloo Organ Company, a domestic corporation formed under the laws of this state, desires to obtain loans, discounts, credits and other pecuniary accommodations of and from the First ¡National Bank of Waterloo, N. Y., and “ Wheeeas, the said bank requires security for such…
Read the full summary
Action against defendant as one of six sureties upon a bond given to the plaintiff for the benefit of the Waterloo Organ Company, January 31,. 1901. The following is a copy of the bond: “Wheeeas, the Waterloo Organ Company, a domestic corporation formed under the laws of this state, desires to obtain loans, discounts, credits and other pecuniary accommodations of and from the First ¡National Bank of Waterloo, N. Y., and “ Wheeeas, the said bank requires security for such loans and discounts and for all other indebtedness or liability of the said company to it, and “ Wheeeas, the undersigned…
1Opinion of the CourtFoote, J.
This action was tried at the Seneca Trial Term before the court without a jury, and has since been submitted upon briefs of counsel.
The plaintiff seeks by this action to hold defendant liable as the only solvent surety upon a bond given by the Waterloo Organ Company to the plaintiff on the 31st day of January, 1901, for the amount of fifteen mortgage bonds of the Waterloo Organ Company of the denomination of $500 each, being part of an issue of eighty bonds made December 1, 1894, the fifteen bonds in question having been acquired by the plaintiff in the month of July, 1901.
The principal…
2Cases cited5 opinions
- Douglass v. HowlandNew York Supreme Court · 1840
- People v. . LeeNew York Court of Appeals · 1887
- Barnes v. . CushingNew York Court of Appeals · 1901
- Barnes v. CushingAppellate Division of the Supreme Court of the State of New York · 1899
- Genesee College v. . DodgeNew York Court of Appeals · 1863
3Cited by3 opinions
- First National Bank v. Exchange National BankNew York Supreme Court · 1915
- Headley v. PostSupreme Court of Kansas · 1926
- First National Bank of Waterloo v. Exchange National Bank of Seneca FallsAppellate Division of the Supreme Court of the State of New York · 1917