Waydell v. Luer
Court for the Trial of Impeachments and Correction of Errors
On error to the supreme court. Luer sued Cort, Waydell and Underhill, in the New-York common pleas, in assumpsit. Way-dell and Underhill pleaded non-assumpsit, and Cort suffered judgment by default. On the trial it appeared that the defendants had been copartners under the name of N. Cort & Co. for about one year, ending in January, 1838, at which time they dissolved and made an assignment to trustees for the benefit of their creditors.
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On error to the supreme court. Luer sued Cort, Waydell and Underhill, in the New-York common pleas, in assumpsit. Way-dell and Underhill pleaded non-assumpsit, and Cort suffered judgment by default. On the trial it appeared that the defendants had been copartners under the name of N. Cort & Co. for about one year, ending in January, 1838, at which time they dissolved and made an assignment to trustees for the benefit of their creditors. The trustees however did not act: but Cort, under some arrangement which was not distincly shown, was left in possession of the effects of the concern and…
1Opinion of the Court
Lott, Senator.
The material question presented in this case is, whether a partnership debt can, after notice of the dissolution of the copartnership, be paid and discharged by the negotiable note of one of the partners given to and received by the creditor, as payment and in satisfaction.
To a plain and practical man there would seem to be no possibility of a doubt in relation to it. He would naturally say that parties are at liberty to make such settlements as their convenience or interest may dictate, and that such an arrangement affords great facilities, and is peculiarly advantageous in…
2Cases cited12 opinions
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3Cited by49 opinions
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- Millerd v. . ThornNew York Court of Appeals · 1874
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