Oeser & Co. v. Behrend
Appellate Terms of the Supreme Court of New York
Appeal by defendants from a judgment of the City Court of the city of New York, entered on a verdict directed for plaintiff and an order denying a motion for a new trial.
1DissentPendleton, J.
The action is on a promissory note. The defense is usury. Plaintiff: is a bona fide transferee of the note before maturity for value and without notice. That notes void for usury are void in whosoever hands they may come has been the settled law of this state is too plain for argument. Gen. Business Law, § 373; Claflin v. Boorum, 122 N. Y. 385. This rule the learned trial justice held has been changed by section 96 of the Negotiable Instruments Law. It provides as follows: “A holder in due course holds the instrument free from any defect of title of prior parties and free from defenses…
2Cases cited6 opinions
- Schlesinger v. . GilhoolyNew York Court of Appeals · 1907
- Claflin v. . BoorumNew York Court of Appeals · 1890
- Schlesinger v. KellyAppellate Division of the Supreme Court of the State of New York · 1906
- Crusins v. SiegmanNew York Supreme Court · 1913
- Emanuel v. MisickiAppellate Terms of the Supreme Court of New York · 1914
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