Griggs v. Howe
New York Court of Appeals
This is an appeal by the defendants from a judgment of the Supreme Court rendered in favor of the plaintiffs in the second district. The action was brought upon two drafts drawn by Henry L. Webb to his own order, and purporting to be accepted by the defendants, under the firm name of O. B. Howe & Co., each dated June 9th, 1855, for one thousand two hundred and fifty dollars ($1,250), one at two months and the other at three.
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This is an appeal by the defendants from a judgment of the Supreme Court rendered in favor of the plaintiffs in the second district. The action was brought upon two drafts drawn by Henry L. Webb to his own order, and purporting to be accepted by the defendants, under the firm name of O. B. Howe & Co., each dated June 9th, 1855, for one thousand two hundred and fifty dollars ($1,250), one at two months and the other at three. The defense was, that the drafts had been accepted in blank for the accommodation of Webb, the drawer, and filled up by him for a greater amount than authorized, and that…
1Opinion of the CourtPeckham, J.
The only questions presented in this case arise upon the charge, and the refusal to charge,, of the judge. His refusal to charge that the answer was broad enough to admit the defense of usury I think was right. The answers set up that the interest deducted by the plaintiffs, by agreement on discounting the two drafts, was one hundred and twenty-five dollars ($125), which was at the rate of two per cent a month, or 24 per cent a year for the time the draft had run. The proof showed that the drafts were discounted at different times, and by separate several contracts, and at a rate of interest…
2Cases cited6 opinions
- Ramsdell v. MorganNew York Supreme Court · 1837
- New-Orleans Gas Light & Banking Co. v. DudleyNew York Court of Chancery · 1840
- Gould v. SegeeThe Superior Court of New York City · 1856
- Mechanics' Bank of Williamsburgh v. FosterNew York Supreme Court · 1865
- Keutgen v. ParksThe Superior Court of New York City · 1848
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