Cohn v. Colby
New York Supreme Court
The defendant, John L. Colby and one Chester P. Doubleday were merchants, in the city of ¡New York, and copartners in trade, doing business under the firm name of John L. Colby & Co., and as such were, on March 21,1878, indebted to the plaintiff in the sum of $14,100.36, for which sum the said firm made to the plaintiff two promissory notes each for $7,050.18, which notes were secured by mortgage executed by the defendants Colby and Mary A., his wife.
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The defendant, John L. Colby and one Chester P. Doubleday were merchants, in the city of ¡New York, and copartners in trade, doing business under the firm name of John L. Colby & Co., and as such were, on March 21,1878, indebted to the plaintiff in the sum of $14,100.36, for which sum the said firm made to the plaintiff two promissory notes each for $7,050.18, which notes were secured by mortgage executed by the defendants Colby and Mary A., his wife. Afterwards Colby & Co. became bankrupts and such proceedings were had in the district court of the United States, for the southern district of…
1Opinion of the CourtVan Vorst, J.
The case of Paret agt. Zickner (16 N. B. R., 315) is an express authority that a secured creditor is entitled to the per centage agreed upon in the composition pro*170ceeding, on the deficit left unpaid on realizing such security. In other words, that such claim is not discharged by the composition proceedings.
I do not find any express authority to the contrary. In re Lytle & Co. (14 N. B. R., 457), the judge did, indeed, advance a view in opposition to that above expressed. But the question was not before him. What he decided was, that he had no power to issue an injunction restraining an…
2Cases cited1 opinion
- In re LytleDistrict Court, W.D. Pennsylvania · 1876
3Cited by2 opinions
- American Woolen Co. v. CohenAppellate Division of the Supreme Court of the State of New York · 1911
- Philadelphia Saving Fund Society v. Belkin, Pennsylvania Court of Common Pleas, Philadelphia County1940