First National Bank v. Lafayette Trust Co.
New York Supreme Court
Action to recover possession of a bond and mortgage for $300,000 dated November 30, 1906, made by Edward T. Jenkins to John G-. Jenkins, Sr., and assigned by the latter to the Jenkins Trust Company, later known as The Lafayette Trust Company.
1Opinion of the CourtCrane, J.
The plaintiff has no greater right to the bond and mortgage in question than John G. Jenkins, Sr., would have if he were alive. For the following reasons John G. Jenkins, Sr., would not be able to maintain this action: First. The assignment of.the bond and mortgage to the Jenkins Trust' Company was not made to secure a promise to pay the debt of the corporation of Frank & J. G. Jenkins, Jr., nor is the claim of the defendant to possession of these securities based upon an attempt to enforce any such agreement. John G. Jenkins, Sr., was a stockholder in the corporation of Frank & J. G.…
2Cases cited5 opinions
- Davis v. PatrickSupreme Court of the United States · 1891
- Brown v. . BowenNew York Court of Appeals · 1864
- Redington v. CornwellCalifornia Supreme Court · 1891
- Ackley v. . ParmenterNew York Court of Appeals · 1885
- McKinney v. ArmstrongAppellate Court of Illinois · 1901
3Cited by2 opinions
- Dunscombe v. Crocker-Wheeler Electric Manufacturing Co.Appellate Division of the Supreme Court of the State of New York · 1931
- First Nat. Bank v. Lafayette Trust Co.Appellate Division of the Supreme Court of the State of New York · 1915