Esterly v. . Cole
New York Court of Appeals
This was an action of assumpsit in the supreme court, brought by M. and P. Esterly against Cole, to recover the balance of an account for goods sold, &c.
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This was an action of assumpsit in the supreme court, brought by M. and P. Esterly against Cole, to recover the balance of an account for goods sold, &c. The plaintiffs were merchants at Medina, Ulster county, and the defendant, who resided in the vicinity, was their customer from 1837 to 1840. It was the practice of the plaintiffs to charge interest after six months on goods sold by them, and the referees, before whom the cause was heard, found from the evidence that this fact was known to the defendant. It was also proved that it was the general usage among merchants in that neighborhood to…
1Opinion of the Court
Bronson, Ch. J.
The plaintiffs are merchants, and have recovered interest after six months on an open running account for goods sold and delivered. The law does not give interest in such a case; and it can only be recovered where there was either a stipulated term of credit, which has expired; (Van Rensselaer v. Jewett, 2 Comst. 135;) or an agreement, express or implied, to pay interest.
An agreement for interest may be inferred from the course of dealing between the parties; as where interest has before been charged and allowed under the like circumstances. Also where the creditor has a…
2Cited by7 opinions
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- Clark v. SmallwoodU.S. Circuit Court for the District of Western New York · 1907
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