Security Bank of Minnesota v. Fogg
Massachusetts Supreme Judicial Court
Tort for the conversion of a promissory note for $8,054.79, dated November 16, 1886, signed by the Gull River Lumber Company, payable to J. S. Pillsbury, and indorsed by him and the Pray Manufacturing Company. Writ dated December 17, 1886. At the trial in the Superior Court, without a jury, before Mason, J., the following facts appeared.
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Tort for the conversion of a promissory note for $8,054.79, dated November 16, 1886, signed by the Gull River Lumber Company, payable to J. S. Pillsbury, and indorsed by him and the Pray Manufacturing Company. Writ dated December 17, 1886. At the trial in the Superior Court, without a jury, before Mason, J., the following facts appeared. The defendants, who were bankers and brokers and dealers in commercial paper in Boston, had had dealings in such paper for several years before November, 1886, under an oral agreement with the Pray Manufacturing Company, a corporation established under the…
1Opinion of the CourtC. Allen, J.
The note in question was sent to the defendants, not to be put into their general account with the Pray Company, but with notice that the Pray Company would draw on them for the amount of it. The defendants answered, that they did not care to pay the draft against it. The Pray Com*277pany thereupon telegraphed to the defendants that they must pay the draft, or return the note immediately. The defendants declined to do either, and sold the note. The result of this was, that they were responsible for the conversion of the note. National Bank of Cairo v. Crocker, 111 Mass. 163.
The ground chiefly…
2Cases cited1 opinion
- First National Bank v. CrockerMassachusetts Supreme Judicial Court · 1872
3Cited by3 opinions
- Brooks v. DavisMassachusetts Supreme Judicial Court · 1936
- Simanovich v. WoodMassachusetts Supreme Judicial Court · 1887
- Desmond v. McNamaraWisconsin Supreme Court · 1900