Coburn v. Baker
The Superior Court of New York City
This action comes before the court upon an appeal by the plaintiff from a judgment dismissing his complaint. One Bogart, being owner of the unexpired term of certain leasehold premises described in the complaint, executed two several mortgages of such premises; one dated May, 1851, to Jacob Christie, to secure the payment of $2000 and interest; the other, dated June 10, 1852, to J. B. Dunham and E. Scudder, to secure the payment of the further sum of $2000 and interest.
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This action comes before the court upon an appeal by the plaintiff from a judgment dismissing his complaint. One Bogart, being owner of the unexpired term of certain leasehold premises described in the complaint, executed two several mortgages of such premises; one dated May, 1851, to Jacob Christie, to secure the payment of $2000 and interest; the other, dated June 10, 1852, to J. B. Dunham and E. Scudder, to secure the payment of the further sum of $2000 and interest. Scudder assigned his interest in the latter mortgage to Dunham, on the 5th of October, 1852. • - Subsequently, and on the…
1Opinion of the CourtBy the Court. Bosworth, J.
The view taken of the plaintiff’s rights and position, by his counsel, we understand to be, in brief, this:—
If the note made by Coburn had continued in Willett’s hands until the defendant Gridley was appointed receiver, and had, on that day, been delivered to Gridley, as such receiver, Gridley could not have maintained an action upon it, because the consideration of it had wholly failed, by reason of the insolvency of Willett, and his consequent inability and failure to pay the note which he gave in exchange to Coburn. That the note would have been valueless and invalid in the hands of such…
2Cases cited3 opinions
- Rice v. MatherNew York Supreme Court · 1829
- Keep v. LordThe Superior Court of New York City · 1853
- Wooster v. JenkinsNew York Supreme Court · 1846
3Cited by1 opinion
- President of Troy City Bank v. McSpedonNew York Supreme Court · 1860