Springs v. Hanover National Bank
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered November 4, 19.12, affirming a judgment in favor of defendant entered upon a verdict directed by the court. The plaintiffs are and for some time have been engaged as cotton commission merchants in the business of buying and selling cotton in New York, dealing mainly on the Cotton Exchange.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered November 4, 19.12, affirming a judgment in favor of defendant entered upon a verdict directed by the court. The plaintiffs are and for some time have been engaged as cotton commission merchants in the business of buying and selling cotton in New York, dealing mainly on the Cotton Exchange. The defendant at all times involved in this action has been a national bank, having its banking offices in said city, and the First National Bank of Decatur, Alabama, was a similar banking…
1Opinion of the CourtHiscock, J.
This case directly presents to this court for the first time the question whether the drawee of a draft who has paid the same to a bona fide holder for value relying in part upon purported bills of lading attached by the drawer to the draft, but not mentioned therein, can, on discovery that the bills of lading are forgeries, recover back the moneys so paid from the payee or indorsee who has neither guaranteed the genuineness of said instruments nor been aware of their fraudulent character.
In this case the plaintiffs, who as such drawees paid the defendant as indorsee from another bank a draft…
2Cases cited4 opinions
- Goetz v. Bank of Kansas CitySupreme Court of the United States · 1887
- First National Bank of Detroit v. BurkhamMichigan Supreme Court · 1875
- Young & Son v. Lehman, Durr & Co.Supreme Court of Alabama · 1879
- Alton v. First National BankMassachusetts Supreme Judicial Court · 1892
3Cited by9 opinions
- Thompson v. Fourth Nat. BankSupreme Court of Alabama · 1926
- Archibald & Lewis Co. v. Banque Internationale de CommerceAppellate Division of the Supreme Court of the State of New York · 1926
- Hubbard Bros. & Co. v. Southern Pac. Co.Court of Appeals for the Fifth Circuit · 1919
- Williams v. National Fruit ExchangeSupreme Court of Connecticut · 1920
- Old National Bank of Waupaca v. Peoples Bank of HarrisvilleWest Virginia Supreme Court · 1921
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