Legal Opinion
International Firearms Co. v. Kingston Trust Co.
New York Court of Appeals
Decided July 8, 1959PublishedCited by 16 opinions
1Opinion of the CourtVan Voobhis, J.
This appeal is based on the legal principle that a bank draft bought and paid for is an executed sale of credit, and is not subject to rescission or countermand (Kerr S. S. Co. v. Chartered Bank of India, 292 N. Y. 253; Schweitzer v. Fargo, 255 N. Y. 60; Gravenhorst v. Zimmerman, 236 N. Y. 22; Bobrick v. Second Nat. Bank, 175 App. Div. 550, affd. 224 N. Y. 637). This principle has become axiomatic, nor does it appear that Special Term or the Appellate Division questioned it. We think that they erred, however, in failing to give effect to a Canadian judgment which established title to this…
2Cases cited9 opinions
- Hilton v. GuyotSupreme Court of the United States · 1895
- M. O'Neil Supply Co. v. Petroleum Heat & Power Co.New York Court of Appeals · 1939
- Gravenhorst v. . ZimmermanNew York Court of Appeals · 1923
- Wigand v. . Bachmann-Bechtel Brewing Co.New York Court of Appeals · 1918
- Bobrick v. Second National BankAppellate Division of the Supreme Court of the State of New York · 1916
4 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Clarkson Co. v. ShaheenCourt of Appeals for the Second Circuit · 1976
- Matter of CulmerUnited States Bankruptcy Court, S.D. New York · 1982
- Clarkson Co., Ltd. v. ShaheenCourt of Appeals for the Second Circuit · 1976
- Evelyn Indyk and Leo Indyk, Plaintiffs-Appellees-Appellants v. Habib Bank Limited, Defendant-Appellant-AppelleeCourt of Appeals for the Second Circuit · 1982
- Cornfeld v. Investors Overseas Services, Ltd.District Court, S.D. New York · 1979
11 more not listed; retrieve them via the Exa API.