Equitable Trust Co. v. . Keene
New York Court of Appeals
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered February 4, 1921, which affirmed an order of Special Term overruling a demurrer to the first separate defense set up in the answer.
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Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered February 4, 1921, which affirmed an order of Special Term overruling a demurrer to the first separate defense set up in the answer. The following question was certified: “ Is the first separate and distinct defense contained in the answer herein sufficient in law upon the face thereof? ” The transaction involved an agreement by plaintiff to perform a service. It did not involve a sale or a contract to sell. (Katcher v. Am. Express Co., 109 Atl. Rep. 741; Beecher v.…
1Opinion of the Court
Hiscock, Ch. J.
This appeal involves the question whether an agreement to deliver or make a cable transfer of exchange on London is a contract to sell an existing credit for the amount involved or is an executory contract to place to the credit of the person named the amount in question at the time and place specified. The distinction between these two views of an agreement for a cable transfer of exchange is narrow and somewhat obscure. The technical and legal consideration involved is the one that if the agreement be regarded as a sale of, or a contract to sell, an existing credit it comes…
2Cases cited2 opinions
- Legniti v. Mechanics & Metals National BankNew York Court of Appeals · 1921
- Wiger v. CarrWisconsin Supreme Court · 1907
3Cited by16 opinions
- Gravenhorst v. . ZimmermanNew York Court of Appeals · 1923
- Richard v. American Union BankNew York Court of Appeals · 1925
- Union State Bank v. Peoples State BankWisconsin Supreme Court · 1927
- Morgenstern v. CohonNew York Court of Appeals · 1957
- McGowan v. McGowanNew York Supreme Court · 1950
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