Atlantic National Bank v. Franklin
New York Supreme Court
APPEAL by the plaintiff from a judgment entered upon the report of a referee. The action was brought by the plaintiff, as endorsee, against the defendant, as maker, of three promissory notes. Van Saun & Company, brokers, were dealers, and kept an account with the plaintiff. On or about April 28, 1870, the bank made Van Saun & Co. a call loan of $30,000, on collaterals.
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APPEAL by the plaintiff from a judgment entered upon the report of a referee. The action was brought by the plaintiff, as endorsee, against the defendant, as maker, of three promissory notes. Van Saun & Company, brokers, were dealers, and kept an account with the plaintiff. On or about April 28, 1870, the bank made Van Saun & Co. a call loan of $30,000, on collaterals. Becoming dissatisfied with the collaterals, the president of the bank called on Van Saun & Co. to pay said loan, on or about the 23d day of July, 1870. Van Saun & Co. did not pay, but requested the bank to take the notes in…
1Opinion of the Court
By the Court, Fancher, J.
At the conclusion of the
testimony it was stipulated between the counsel for the respective parties “that the decision in this case turns exclusively upon the question whether, on the evidence already in, the plaintiff is a dona fide holder for value, of the notes in controversy.”
The evidence shows that the plaintiff, on the 38th of April, 1870, made to Van Saun & Co. a call loan of $30,000 upon a collateral note for $30,000 made by the mother and wife of Albert Van Saun, and endorsed by his father, John A. Van Saun.
When the notes sued upon in this action were received…
2Cases cited8 opinions
- Grandin v. Le Roy & SmythNew York Court of Chancery · 1831
- Bank of Rutland v. BuckNew York Supreme Court · 1830
- Place v. . McIlvainNew York Court of Appeals · 1868
- Boyd v. . CummingsNew York Court of Appeals · 1858
- Lathrop v. MorrisThe Superior Court of New York City · 1851
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