Grand Rapids & Indiana Railroad v. Sanders
New York Supreme Court
Action to compel the surrender and delivery, to the plaintiff, of certain railroad mortgage bonds, claimed to have been improperly negotiated and transferred by the agents of the plaintiff.
1Opinion of the CourtVan Vorst, J.
King & Sutton were the agents of the plaintiff, through the appointment of the president of the railroad company, to aid in the negotiation of the issue of the bonds of 1861. They, in the course of their agency, loaned and advanced moneys to the president, and through their agency, as they claim, moneys were borrowed from others for the use of the president. The sums loaned, in the aggregate, were not large.
Bonds, to a large amount, were pledged by the president, to and through them, to secure these loans. These bonds were not issued or delivered by the plaintiff, through its president, for…
2Cases cited3 opinions
- Gould v. SegeeThe Superior Court of New York City · 1856
- Miller v. . TalcottNew York Court of Appeals · 1873
- Farrington v. Park BankNew York Supreme Court · 1863