Pinneo v. Higgins
New York Court of Common Pleas
Appeal from a judgment. This was an action against defendants, Higgins & Farrell, as indorsers of a promissory note. Madden & Stewart, the makers, having failed in business, proposed to their creditors a composition, by which the creditors were to accept the debtor’s notes for sixty-two and one half cents on a dollar, and were to look to the rents of certain property for the residue of their demands.
Read the full summary
Appeal from a judgment. This was an action against defendants, Higgins & Farrell, as indorsers of a promissory note. Madden & Stewart, the makers, having failed in business, proposed to their creditors a composition, by which the creditors were to accept the debtor’s notes for sixty-two and one half cents on a dollar, and were to look to the rents of certain property for the residue of their demands. The plaintiffs were among the creditors, and when the deed was presented to Pinneo, one of the plaintiffs, Pinneo put off their signing until the other creditors should sign. All the other…
1Opinion of the Court
By the Court.—Daly, F. J.
—After a careful examination of this case, I am confirmed in the view which I took of it at the trial. It is of no consequence whether the name of the plaintiffs was the first that was signed to the composition agreement, or the last. (Knight a. Hunt, 5 Bing., 432.) By signing it they bound them to release Hadden & Stewart upon certain conditions. The obligation was entered into, not only with Hadden & Stewart, but with the creditors who became parties to the composition, and any separate agreement by which the plaintiffs secured to themselves more advantageous terms,…
2Cases cited1 opinion
- Russell & Hall v. RogersNew York Supreme Court · 1833
3Cited by7 opinions
- Glens Falls National Bank v. NostrandNew York Supreme Court · 1903
- Bean v. AmsinckU.S. Circuit Court for the District of Southern New York · 1873
- Gilmour v. ThompsonNew York Court of Common Pleas · 1875
- Bean v. BrookmireU.S. Circuit Court for the District of Eastern Missouri · 1873
- Brookmire v. BeanU.S. Circuit Court for the District of Eastern Missouri · 1875
2 more not listed; retrieve them via the Exa API.