New-York State Bank v. Fletcher
New York Supreme Court
Motion to set aside an execution on the ground of the judgment having been paid. In December, 1827, C. Adams became the endorser of a note of $500 made by the defendant, which was discounted at the New-York State Bank.
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Motion to set aside an execution on the ground of the judgment having been paid. In December, 1827, C. Adams became the endorser of a note of $500 made by the defendant, which was discounted at the New-York State Bank. The note, when, due, not being paid, the maker and endorser were sued, and separate judgments obtained against them, in August, 1828. The amount of the judgment against the maker, the defendant in this cause, was $548,18; on which the execution now sought to be set aside was issued. In October, 1828, Adams applied to the attorney of the bank, and enquired whether, if he could…
1Opinion of the Court
By the Court,
Marcy, J.
Reed, who claims the right lo enforce the judgment in the above cause, must claim such right either on the ground of a purchase or on the principle that lie is entitled to be substituted in the place of the plaintiffs as the surety of their debtor, he having paid the debt.
*87He is not the bona fide assignee of the judgment. I think the fads show that the judgment was paid before he paid the debt of his principal. In some cases, the giving of negotiable paper is equivalent to the payment of money. 8 Johns. R. 202. In the case of Barclay & Proctor v. Gooch, 2 Esp. Rep. 571,…
2Cases cited1 opinion
- Thacher v. DinsmoreMassachusetts Supreme Judicial Court · 1809
3Cited by39 opinions
- Elwood v. DeifendorfNew York Supreme Court · 1848
- Ellsworth v. . LockwoodNew York Court of Appeals · 1870
- Corey v. WhiteNew York Supreme Court · 1848
- Frisbie v. LarnedNew York Supreme Court · 1839
- Smith v. RumseyMichigan Supreme Court · 1876
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