First National Bank of Paterson v. National Broadway Bank
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered November 26, 1897, affirming a judgment in favor of the defendants, entered upon a decision of the court on trial at Special Term dismissing the- complaint upon the merits. The plaintiff commenced this action to compel the Broadway Bank to transfer to its name certain shares of capital .stock, issued to and standing in the name of “ Philo P. Hotchkiss, trustee.”
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered November 26, 1897, affirming a judgment in favor of the defendants, entered upon a decision of the court on trial at Special Term dismissing the- complaint upon the merits. The plaintiff commenced this action to compel the Broadway Bank to transfer to its name certain shares of capital .stock, issued to and standing in the name of “ Philo P. Hotchkiss, trustee.” The6 defendant bank denied the plaintiffs ownership and set up the claim of title made thereto by Seth M. Tuttle, as…
1Opinion of the CourtGray, J.
Upon these facts, which are undisputed, the courts below have held that Tuttle was entitled to the possession and transfer of the stock and to the accrued dividends thereon. The conclusion as to the title to the property was reached upon the theory that, as the plaintiff received the stock with constructive notice that it was the subject of a trust, no title was acquired thereto, which it could enforce; for the. pledge was contrary to the terms of the trust. I think that, so far, we should agree in the decision of the learned justices, below.
It is clear enough, upon 'the facts proved, that…
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- Shaw v. SpencerMassachusetts Supreme Judicial Court · 1868
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- Yale v. . DedererNew York Court of Appeals · 1858
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