Pearsall v. Nassau National Bank
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, the Nassau National Bank of Brooklyn, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Kings on the 21st day of January, 1902, upon the decision of the court, rendered after a trial at the Kings County Special Term. This action is brought by the trustee in bankruptcy of Mr. Johnson to recover $680 and $1,424 from a bank. Mr. Johnson-and his. wife were separate depositors therein.
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Appeal by the defendant, the Nassau National Bank of Brooklyn, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Kings on the 21st day of January, 1902, upon the decision of the court, rendered after a trial at the Kings County Special Term. This action is brought by the trustee in bankruptcy of Mr. Johnson to recover $680 and $1,424 from a bank. Mr. Johnson-and his. wife were separate depositors therein. The bank had discounted for Mr. Johnson, and held, two promissory notes made by Mrs. Johnson to her own order, for the…
1Opinion of the Court
Jenks, J.:
The bank had no lieu upon the deposits of Mr. Johnson for the payment of the note before the maturity thereof, for the reason stated in Jordan v. National Shoe & Leather Bank (74 N. Y. 467), that such right does not arise from mere possession, but from contract or operation of law, and where . there is no contract the law does not imply one until after the note falls due, remains unpaid and no other rights have intervened. Before the note fell due Mr. Johnson had made and delivered the assignment. As Mr. Johnson had the right to draw out his balance at any time before the note fell…
2Cases cited13 opinions
- Sawyer v. HoagSupreme Court of the United States · 1873
- Jordan v. . National Shoe and Leather BankNew York Court of Appeals · 1878
- Wilson v. NelsonSupreme Court of the United States · 1901
- Beckwith v. . the Union Bank of New-YorkNew York Court of Appeals · 1853
- Munger v. . Albany City National BankNew York Court of Appeals · 1881
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3Cited by4 opinions
- Irish v. Citizens' Trust Co.District Court, N.D. New York · 1908
- Union Bank v. United States Exchange BankAppellate Division of the Supreme Court of the State of New York · 1911
- Salt Springs National Bank v. HitchcockAppellate Division of the Supreme Court of the State of New York · 1933
- Gilbert v. Mechanics & Metals National BankAppellate Division of the Supreme Court of the State of New York · 1916