Brookman v. . Metcalf
New York Court of Appeals
Appeal from the judgment of the Supreme Court of the city of New York, reversing the j'udgment entered on report of referee. The action was brought on a promissory note for $500, dated 8th November, 1855, made by defendant, payable six months after date to his own order, and indorsed by him in blank, and delivered to the Atlas Mutual Insurance Company.
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Appeal from the judgment of the Supreme Court of the city of New York, reversing the j'udgment entered on report of referee. The action was brought on a promissory note for $500, dated 8th November, 1855, made by defendant, payable six months after date to his own order, and indorsed by him in blank, and delivered to the Atlas Mutual Insurance Company. It appeared on the trial that the insurance company, having ■become embarrassed, started a subscription amongst its friends and customers, dated 8th November, 1855, by which the subscribers agreed to give their notes to the company in advance…
1Opinion of the CourtDavis, J.
By the charter of the Atlas Mutual Insurance Company (Sess. Laws 1843, ch. 92, § 8), the twelfth section of the charter of the Atlantic Mutual Insurance Company (Laws 1842, oh. 21Y) is incorporated into and made a part of the charter of the first named company. That section provides that the company “ may receive notes for premiums in advance of persons to receive its policies, and may negotiate such notes for the purpose of paying claims or otherwise in the course of business.”
The note in suit was given for “ premiums in advance ” • within the sense of this provision. The subscription…
2Cited by6 opinions
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- Sheets v. Southern Pacific Co.California Supreme Court · 1931
- Pearce & Miller Engineering Co. v. BrouwerCity of New York Municipal Court · 1894
- People v. LincolnNew York Supreme Court · 1881
- First National Bank v. Kay Bee Co.Illinois Supreme Court · 1937
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