Williams v. Hochstein
District Court, D. New Jersey
At Law. Action by Christopher Williams, as receiver of the First National Bank of Bayonne, against Joseph Hochstein. Judgment for plaintiff. The First National Bank of Bayonne became insolvent upon December 8, 1913, and in due course plaintiff became receiver.
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At Law. Action by Christopher Williams, as receiver of the First National Bank of Bayonne, against Joseph Hochstein. Judgment for plaintiff. The First National Bank of Bayonne became insolvent upon December 8, 1913, and in due course plaintiff became receiver. The complaint alleges tbat about October 10, 1913, the defendant made and delivered bis promissory note, dated at Bayonne, N. J., October 10, 1913, and promising to pay to tbe order of tbe First National 'Bank of Bayonne, N. J., $380.79 at tbe First National Bank of Bayonne; tbat no part of tbe note has been paid, although payment…
1Opinion of the CourtHunt, Circuit Judge
(after .stating the facts as above). [1,2] Examination of authorities demonstrates that defendant cannot avail himself of his attempted defenses, for it is well settled that an accommodation maker, even if he is known to be such by the holder of a negotiable note in due course, is yet liable. It has been said by the Supreme Court of the United States in Israel v. Gale, 174 U. S. 391, 19 Sup. Ct. 768, 43 L. Ed. 1019, that it is elementary that mere knowledge that paper has been drawn for an accommodation does not prevent one who has taken it for value from recovering thereon. The decision of…
2Cases cited3 opinions
- Israel v. GaleSupreme Court of the United States · 1899
- Earle v. EnosU.S. Circuit Court for the District of Eastern Pennsylvania · 1904
- Israel v. GaleCourt of Appeals for the Second Circuit · 1896