Klein v. East River Electric Light Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, the East River Electric Light Company (thereafter known by the name of the Thomson-Houston Electric Company) and another, from an order of the Appellate Term of the Supreme Court, entered in the office of the clerk of the county of New York on the 28th day of Hay, 1903, affirming a judgment of the General Term of the City Court of New York, entered in the office of the clerk of said court on the 21st day of January, 1903, which affirmed a judgment…
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Appeal by the defendants, the East River Electric Light Company (thereafter known by the name of the Thomson-Houston Electric Company) and another, from an order of the Appellate Term of the Supreme Court, entered in the office of the clerk of the county of New York on the 28th day of Hay, 1903, affirming a judgment of the General Term of the City Court of New York, entered in the office of the clerk of said court on the 21st day of January, 1903, which affirmed a judgment of the City Court of New York in favor of the plaintiff, entered in the office of the clerk -of said court on the 19th…
1Dissent
Ingraham, J. (dissenting):
I do not concur in the affirmance of this judgment. The coupons in question had been detached from the bonds before delivery ; and after they were detached and before September twelfth, when they became due, they were delivered to Wm. H. Kelly for value.
As they were thus detached from the bonds before delivery by the obligor, they never represented interest on the bonds and were *99not, therefore, secured by the mortgage which secured the payment of the bonds and interest. When issued for value by the obligor, however, they became, in the hands of a holder for value,…
2Cases cited3 opinions
- Paige v. . WilletNew York Court of Appeals · 1868
- Fernschild v. D. G. Yuengling Brewing Co.New York Court of Appeals · 1898
- Fernschild v. D. G. Yuengling Brewing Co.Appellate Division of the Supreme Court of the State of New York · 1897