Sabine v. . Paine
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the second judicial department, entered February 9, 1915, affirming a judgment in favor of defendant entered upon a verdict. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the second judicial department, entered February 9, 1915, affirming a judgment in favor of defendant entered upon a verdict. The nature of the action and the facts, so far as material, are stated in the opinion. Under the provisions of section 96 of the Negotiable Instruments Law the defense of usury to negotiable paper is no longer available against a bona fide holder for value in due course and without, notice of the infirmity. (Broadway Trust Co. v. Manheim, 47 Misc. Rep. 416; Klar v. Kostiuk, 65 Misc. Rep. 199; Oeser…
1Opinion of the CourtCollin, J.
The action is upon a promissory note in the sum of twenty-one hundred dollars, made by the defendant and owned by the plaintiff. The note was-payable, four months after its date, to the order of Eugene F. Vacheron. It was delivered to him as the agent of the defendant for the purpose of having it discounted for her. He after indorsing it transferred it to the plaintiff for the sum of eighteen hundred and fifty dollars. Under the evidence and the decision of the Appellate Division, this appeal presents the single question, is an usurious promissory note enforcible by a holder in due course.
The…
2Cases cited15 opinions
- Vallett v. ParkerNew York Supreme Court · 1831
- Sondheim v. GilbertIndiana Supreme Court · 1888
- Eastman v. . ShawNew York Court of Appeals · 1875
- German Bank v. DeShonSupreme Court of Arkansas · 1883
- Claflin v. . BoorumNew York Court of Appeals · 1890
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3Cited by42 opinions
- Irving Trust Co. v. LeffNew York Court of Appeals · 1930
- Cuneo v. BornsteinMassachusetts Supreme Judicial Court · 1929
- McCormick v. FallierSupreme Court of Alabama · 1931
- Ferdon v. Zarriello Bros. Inc.New Jersey Superior Court Appellate Division · 1965
- Baker v. ButcherCalifornia Court of Appeal · 1930
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