Legal Opinion
Wallabout Bank v. Peyton
Appellate Division of the Supreme Court of the State of New York
Decided January 10, 1908Published
Appeal from Trial Term, Kings County. Action by the Wallabout Bank against Albert J. Peyton. From a judgment for plaintiff, and from an order denying a motion for a new trial, defendant appeals. Affirmed.
1Opinion of the CourtJenks, J.
The action is upon this promissory note:
“$790. New York, Feby. 1st, 1904.
“Five months after date I promise to pay to the order of Theodore F. Lake seven hundred and ninety and no/100 dollars, at Mercantile Nat Bank, N. Y. City. Value received. •
“No. -. Due -. A. J. Peyton.”
The note was discounted for the payee by the plaintiff on May 9, 1904. Each party moved for a direction of a verdict, and the plaintiff was successful.
Beyond denial, the defense was that the note was delivered to the payee in payment of a premium on a life insurance policy solicited by Lake, who was a life insurance agent;…
2Cases cited7 opinions
- Merrill v. Ithaca & Owego Rail RoadNew York Supreme Court · 1837
- Vosburgh v. ThayerNew York Supreme Court · 1815
- Citizens' State Bank v. . CowlesNew York Court of Appeals · 1905
- Ocean Nat. Bank of N.Y. City v. . CarllNew York Court of Appeals · 1874
- White v. . AmblerNew York Court of Appeals · 1853
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