Bank of Chenango v. Osgood
New York Supreme Court
This was an action of assumpsit, tried at The Madison circuit in September, 1828, before the Hon. Nathan Williams, one of the circuit judges. Osgood and three others were the endorsers of a bill of exchange, drawn by Gilbert F. Jones on a banking company in London, for ¿2000 sterling, dated in January, 1824, payable thirty days after sight, which was purchased by the plaintiffs and negotiated by them.
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This was an action of assumpsit, tried at The Madison circuit in September, 1828, before the Hon. Nathan Williams, one of the circuit judges. Osgood and three others were the endorsers of a bill of exchange, drawn by Gilbert F. Jones on a banking company in London, for ¿2000 sterling, dated in January, 1824, payable thirty days after sight, which was purchased by the plaintiffs and negotiated by them. It was returned protested, and the plaintiffs took it up in June, 1824, paying #11,680, including damages, Sic. When notice of non-acceptance was received, the endorsers were called upon for…
1Opinion of the Court
By the Court,
Marcy, J.
The first point raised by the defendants was waived, or at least not much urged on the argument. The mode of declaring against both drawers and endorsers of a note as joint makers, is not only authorized but enjoined by the sixteenth section of the act incorporating the plaintintiffs; a valid exception cannot therefore be taken to it. The principal difficulty in this case relates to the the construction to be given to the covenant entered into by the plaintiffs not to sue Hatch. The occasion and object of this covenant must be considered before we pronounce upon its…
2Cited by8 opinions
- Nelson v. . EatonNew York Court of Appeals · 1863
- Robinson v. LeavittSuperior Court of New Hampshire · 1834
- Kendrick v. J. B. O'Neil, Foster & Co.Supreme Court of Georgia · 1873
- Rorerts v. Strang, Adriance & Co.Supreme Court of Alabama · 1863
- Irvine v. MilbankNew York Court of Appeals · 1874
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