Backus v. . Fobes
New York Court of Appeals
Appeal from the Supreme Oourt. Action upon two promissory notes executed by the defendants under the firm of Fobes & Backus for $500 each, both payable on or before the 1st day of June, 1850. The defendant Fobes set up in his answer that previous to January 22d, 1852, a controversy having arisen between him and his co-defendant Backus of the one part, and the plaintiff and a third Backus of the other part^ the matter was submitted to arbitrators by a written submission,…
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Appeal from the Supreme Oourt. Action upon two promissory notes executed by the defendants under the firm of Fobes & Backus for $500 each, both payable on or before the 1st day of June, 1850. The defendant Fobes set up in his answer that previous to January 22d, 1852, a controversy having arisen between him and his co-defendant Backus of the one part, and the plaintiff and a third Backus of the other part^ the matter was submitted to arbitrators by a written submission, which he set out in verbis. The submission is dated Jan-nary 22d, 1852; is executed by and purports to be the act of the…
1Opinion of the CourtComstock, J.
In the submission entered into between the partners Fobes and Seth A. Backus, it was provided that the arbitrators might determine which of them should pay the debt of the firm to the plaintiff, embracing the notes on which this suit was brought; and that the other partner should be discharged therefrom. The amount of the debt was also to be settled by the award. To this submission the plaintiff became a party, in respect to his demand, by entering at the same time into a separate stipulation at the foot of the paper, declaring his assent to the terms thereof. The plaintiff, therefore, in…
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