Clark v. . the Merchants' Bank
New York Court of Appeals
Appeal from the superior court of the city of New-York, where the action was assumpsit, tried in February, 1848. The case was this: Clark & Co. (the plaintiffs,) in the spring of 1845, were stock and exchange brokers in the city of Philadelphia, and for four or five years had corresponded and transacted a large business with John T. Smith & Co. exchange brokers in the city of New-York.
Read the full summary
Appeal from the superior court of the city of New-York, where the action was assumpsit, tried in February, 1848. The case was this: Clark & Co. (the plaintiffs,) in the spring of 1845, were stock and exchange brokers in the city of Philadelphia, and for four or five years had corresponded and transacted a large business with John T. Smith & Co. exchange brokers in the city of New-York. The course of business between the two houses was as follows : Clark & Co. transmitted to Smith & Co. funds to be credited and drawn against, or held subject to their order. They sent bills, checks and notes…
1Opinion of the CourtGardiner, J.
The material question, as stated by the court below, is whether the bill in question was transmitted to Smith & Co. for collection merely, 9^ was to be credited to the plaintiffs, when received by the former, whether collected or not. As the bill was endorsed in blank by the plaintiffs, the legal title passed to Smith and Co. prima facie, and the plaintiffs must establish the fact that it was endorsed and forwarded for the purpose of collection.
If this was a question of fact, proper to be submitted to the jury, their verdict for the plaintiffs has disposed of the whole question, and there is…
2Cited by8 opinions
- Armstrong v. American Exchange Nat. Bank of ChicagoSupreme Court of the United States · 1890
- Metropolitan National Bank of New York v. LoydNew York Court of Appeals · 1882
- National Butchers & Drovers' Bank v. HubbellNew York Court of Appeals · 1889
- Ayres v. Farmers & Merchants BankSupreme Court of Missouri · 1883
- In re NorthrupDistrict Court, N.D. New York · 1907
3 more not listed; retrieve them via the Exa API.