Purdy v. Peters
New York Supreme Court
THIS was an appeal hy the defendants from a judgment rendered upon the direction of one of the justices of this court, upon a trial without a jury, a jury having been waived.
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THIS was an appeal hy the defendants from a judgment rendered upon the direction of one of the justices of this court, upon a trial without a jury, a jury having been waived. The action was brought upon a guaranty, by which the defendants’ testator guarantied to the plaintiff and George Rapelye, as copartners, the payment of a certain certificate of deposit, payable two years after date, issued by the North American Trust and Banking Company to the said testator, and by him transferred to said Rapelye and Purdy. The defense was, substantially, that the certificate of deposit was illegal and…
1Opinion of the Court
By the Court, Barnard, J.
The points raised by the appellant, are—
1st. That on the facts as proved, the certificate of deposit is illegal and void.
2d. That on the facts as proved, the guaranty is also void by reason of the certificate of deposit being void.
The certificate of deposit is on its face a perfectly valid instrument. (Curtis v. Leavitt, 15 N. Y. Rep. 29, 83, 84, 295.) But, in the consideration of this case, we shall assume that the decision of the referees in the case of Tracy v. The North American Trust and Banking Company, adjudging the certificate in question to be invalid and to…
2Cases cited3 opinions
- Mann v. Eckford's ExecutorsNew York Supreme Court · 1836
- Swift v. BeersNew York Supreme Court · 1846
- Thurber v. ChambersNew York Court of Appeals · 1875
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