In re Many
District Court, S.D. New York
Motion by the assignee in bankruptcy of the Ann of Many & Marshall, to expunge or reduce a proof of debt by one Joshua A. Clark upon certain notes. The bankrupts [Francis Many and James Marshall], composing the firm of Many & Marshall, prior to their failure, had been hardware dealers in New York. The notes in question had all been either made or endorsed in the firm name, by Francis Many, one of the bankrupts.
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Motion by the assignee in bankruptcy of the Ann of Many & Marshall, to expunge or reduce a proof of debt by one Joshua A. Clark upon certain notes. The bankrupts [Francis Many and James Marshall], composing the firm of Many & Marshall, prior to their failure, had been hardware dealers in New York. The notes in question had all been either made or endorsed in the firm name, by Francis Many, one of the bankrupts. The as-signee claimed that the notes in question were made or endorsed by Many for accommodation of the other parties to the paper; that they had taken their inception in the hands of…
1Opinion of the Court
BLATCHFORD, District Judge.
I am of opinion, on the evidence, that the five notes made to the order of the Trenton Lock Company were business paper in the hands of the payees, and not accommodation paper. If they or any of them were given for an excess over the value of goods consigned, it is for the assignee in bankruptcy to show that clearly, and this is not done.
In addition, as to those five notes, I think the evidence shows that Mr. Clark purchased them on the representation by Many that they were business paper, and not accommodation paper.
In so representing, Many must be held to have…
2Cases cited3 opinions
- Griswold v. . HavenNew York Court of Appeals · 1862
- Cram v. HendricksCourt for the Trial of Impeachments and Correction of Errors · 1831
- Judd v. SeaverNew York Court of Chancery · 1841