Kelty v. Jenkins
New York Court of Common Pleas
• Appeal from o. judgment of tbe Marine Court. Tbis was an action against tbe defen dan to as indorsers of a promissory note. Tbe defendant Hughes alone defended.
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• Appeal from o. judgment of tbe Marine Court. Tbis was an action against tbe defen dan to as indorsers of a promissory note. Tbe defendant Hughes alone defended. It appeared upon tbe trial that tbe note, which was made by one Sa-xton. was Adorned by tbe defendants solely for tbe makers «.cccmmodaticu Vhcm it became due, tbe defendant, Jenkins, told tbe plaintiff tbat tbe maker promised to provide funds in about four months to meet tbe note, and requested tbe plaintiffs to take bis individual note, secured by stock, wbicb they accepted. Tbe defendant Hughes knew nothing of this arrangement.…
1Opinion of the CourtDaly, J.
It appears tbat when tbe note in suit became due, Jenkins, tbe payee, called upon Ferguson, one of the plaintiffs, and told him that tbe maker bad promised to place funds in bis (Jenkins’) bands, to meet the note in four months, and proposed to give bis (Jenkins’) indorsed paper at four months in renewal, offering, as an inducement, ample security in stock. Tbe proposal was accepted. Jenkins placed tbe security in Ferguson’s, bands and the paper in renewal was given. This arrangement was entirely without tbe knowledge of Hughes, tbe second indorser.
This was an express agreement to give time…
2Cases cited1 opinion
- Bank of Utica v. IvesNew York Supreme Court · 1837
3Cited by1 opinion
- Begley v. ChoseNew York Court of Common Pleas · 1871