Lawrence v. . Clark
New York Court of Appeals
This is an appeal from an order of the General Term, reversing a judgment of the Special Term in favor of the Defendants. The notice of appeal was accompanied by a stipulation on the part of the Defendants, that in case the order appealed from should be affirmed, judgment absolute might be rendered against them. The action was brought against the Defendants as makers of a promissory note for $569.33, dated September 1, 1854, payable four years from date.
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This is an appeal from an order of the General Term, reversing a judgment of the Special Term in favor of the Defendants. The notice of appeal was accompanied by a stipulation on the part of the Defendants, that in case the order appealed from should be affirmed, judgment absolute might be rendered against them. The action was brought against the Defendants as makers of a promissory note for $569.33, dated September 1, 1854, payable four years from date. The Defendants, comprising the mercantile firm of Clark, Watson & Co., having become embarrassed in their business and unable to meet their…
1Opinion of the CourtBockes, J.
It must be conceded that the note in suit was invalid in the hands of Wood & Grant, who received it for the balance of their claim beyond the amount secured to all the creditors of Clark, Watson & Co., by the composition deed. The secret agreement made with Wood & Grant was illegal, and the note given in pursuance of it was void in their hands (Breck v. Cole, 4 Sandf. 79; Russell v. Rogers, 10 Wend. 473, 479 ; 4 E. D. Smith, 466 ; Hall v. Dyson, 10 Eng. L. & E. 424; Leicester v. Rose, 4 East. 372 ; 12 Price’s Exch. Rep. 183; 13 Vesey, 581; 15 Vesey, 52; 9 N. H. Rep. 478.)
Nor can the Plaintiff…
2Cases cited13 opinions
- Coddington v. BayCourt for the Trial of Impeachments and Correction of Errors · 1822
- Magee v. . BadgerNew York Court of Appeals · 1866
- Brown v. . LeavittNew York Court of Appeals · 1865
- Russell & Hall v. RogersNew York Supreme Court · 1833
- Cardwell v. HicksNew York Supreme Court · 1862
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3Cited by29 opinions
- Weaver v. . BardenNew York Court of Appeals · 1872
- Fleischmann v. . SternNew York Court of Appeals · 1882
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- Fairbanks v. . SargentNew York Court of Appeals · 1887
- Moore v. . RyderNew York Court of Appeals · 1875
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