First National Bank of Cincinnati v. Kelly
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought in form to recover the possession of sixty-two bales of cotton.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought in form to recover the possession of sixty-two bales of cotton. Hiram Daniel, a dealer in cotton in the city of Cincinnati, doing business under the name of H. Daniel & Co., in the month of April, 1867, came to the plaintiff’s bank with a bill of lading for the sixty-two bales of cotton consigned to Smith & Dunning, of New York, to which was attached a sight draft on the consignees for $7,900, which the…
1Opinion of the Court
Reynolds, C.
We are invited to decide that the plaintiff’s bank acquired no title to the cotton, for the reason that all the papers relating to the transaction were not filed with some town or village clerk in the State of Ohio", as a chattel mortgage.
The law has long been settled, that the discount of a draft, under the circumstances disclosed in this case, passed to the party advancing the money upon the faith of the bill of lading, without fraud; not only the legal title to the property, ■but, in the eye of the law, the transfer of the bill of lading was regarded as an actual delivery and…
2Cases cited2 opinions
- The Bank of Rochester v. . JonesNew York Court of Appeals · 1851
- Fitzhugh v. . WimanNew York Court of Appeals · 1854
3Cited by9 opinions
- In re A. E. Fountain, Inc.Court of Appeals for the Second Circuit · 1922
- First National Bank v. Mount Pleasant Milling Co.Supreme Court of Iowa · 1897
- Freeman v. KraemerSupreme Court of Minnesota · 1895
- Willets v. . HatchNew York Court of Appeals · 1892
- Campbell & Clough v. AlfordTexas Supreme Court · 1882
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