Cooke v. . Davis
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the third judicial department, affirming a judgment in favor of defendant, entered upon an order non-suiting plaintiff at circuit.
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Appeal from judgment of the General Term of the Supreme Court in the third judicial department, affirming a judgment in favor of defendant, entered upon an order non-suiting plaintiff at circuit. This action was brought to recover damages for the breach by defendant of the following contract in writing: “August 5th, 1864. “ E. E. Davis agrees to deliver to T. Cowen $10,000 current funds of the United States at fifteen cents on the dollar, to be delivered in ten months from this date. T. Cowen agrees to take the above $10,000 as above. “E. E. DAYIS. “T. COWES'.” This contract was assigned to…
1Opinion of the CourtRapallo, J.
We cannot find room for any doubt as to the meaning of the parties to the agreement of August 5, 1864. At the time it was made, there existed two kinds of currency. One was coin and the other notes of the United States government, known as legal tender notes. These two currencies had different relative values, and parties were at liberty to contract for payments in either coin or paper currency (43 N. Y., 209; 12 Wall., 687), or to exchange one for the other at different rates. The government itself was authorized by law to enter into those transactions (act of March 19,1862, 12 Stat. at…
2Cases cited2 opinions
- Trebilcock v. WilsonSupreme Court of the United States · 1872
- Chrysler v. . RenoisNew York Court of Appeals · 1870
3Cited by4 opinions
- Bigelow v. . BenedictNew York Court of Appeals · 1877
- Melchert v. American Union Telegraph Co.United States District Court · 1882
- Melzer v. ZimmermanNew York Supreme Court · 1922
- Yerkes v. SalomonNew York Supreme Court · 1877