Willmarth v. Crawford
New York Supreme Court
Error from the New-York common pleas. Crawford sued Willmarth in an action of debt, as the endorsee of a promisory note made by Willmarth, payable to the order of the Harlcem Canal Company. The note, before its maturity, was endorsed by the payees to the plaintiff, in consideration of a debt owing to him by the payees.
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Error from the New-York common pleas. Crawford sued Willmarth in an action of debt, as the endorsee of a promisory note made by Willmarth, payable to the order of the Harlcem Canal Company. The note, before its maturity, was endorsed by the payees to the plaintiff, in consideration of a debt owing to him by the payees. The plaintiff admitted that the note was originally given for the stock of the company, but he denied that he was privy to, or knew the fact when the note was transferred to him. The plaintiff recovered in the common pleas, and the defendant sued out a writ of error. -…
1Opinion of the Court
*342 By the Court,
Nelson, J.
The provisions of the charter incorporating the Harlsem Canal Company clearly contemplate the existence of debts due to and from the company in the course of the execution of the purposes for which it was erant- . ° ed, and unless there is some express restriction, either in the charter or some other act of the legislature, as to the nature of the evidence of the debts due to or from them, or securities to be taken or given by them, they have in this respect the same powers that belong to individuals. Corporations, while acting within the. scope of their authority…
2Cases cited2 opinions
- Vallett v. ParkerNew York Supreme Court · 1831
- Neilson v. BlightNew York Supreme Court · 1799
3Cited by13 opinions
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- Richards v. KountzeNebraska Supreme Court · 1876
- Hewitt Rubber Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- McIntire v. PrestonIllinois Supreme Court · 1848
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