Ahern v. . Goodspeed
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 defendant, entered upon a decision of the court on trial at Special Term.
Read the full summary
Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, affirming a judgment in favor of defendant, entered upon a decision of the court on trial at Special Term. (Reported below, 9 Hun, 263.) This action was brought to have three promissory notes made by plaintiff payable to his own order, and indorsed by him, declared void for usury, to compel a cancellation thereof and return of certain stock pledged as collateral, and for an injunction, receiver, etc. The notes were delivered by plaintiff to Bound & Co., note-brokers in the city of Hew York, of…
1Opinion of the CourtFolger, J.
It cannot be successfully contended that the notes in question had an inception before they were passed to Goodspeed. The indebtedness to Bound & Co. would have been a good consideration for them, and had that been merged in them, and they given as evidence of its existence (Wilkie v. Roosevelt 3 Johns. Cases, 66), they would have had an inception prior to the taking of them by Goodspeed. But they were not given for that indebtedness. They were made for just the purpose for which they were used, to be sold at a discount of twelve per centum per annum. The avails of the sale were to be applied…
2Cases cited3 opinions
- Eagle Bank of New-Haven v. SmithSupreme Court of Connecticut · 1823
- Andrews v. KneelandNew York Supreme Court · 1826
- Fitzhugh v. . SackettNew York Court of Appeals · 1872
3Cited by24 opinions
- Goldman v. BlumTexas Supreme Court · 1883
- Wait v. . BorneNew York Court of Appeals · 1890
- McCormick v. KellySupreme Court of Minnesota · 1881
- Silverstein v. R. H. Macy & Co.Appellate Division of the Supreme Court of the State of New York · 1943
- Anderson v. Tug River Coal & Coke Co.West Virginia Supreme Court · 1906
19 more not listed; retrieve them via the Exa API.