Nash v. . White's Bank of Buffalo
New York Court of Appeals
Appeal from judgment of the G-eneral Term of the Supreme Court in the fourth judicial department affirming a judgment in favor of defendant, entered upon the report of a referee. This action was brought to recover divers penalties alleged to have been incurred by defendant under the act, chapter 163, Laws of 1870, by discounting paper at a greater rate of interest than seven per cent.
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Appeal from judgment of the G-eneral Term of the Supreme Court in the fourth judicial department affirming a judgment in favor of defendant, entered upon the report of a referee. This action was brought to recover divers penalties alleged to have been incurred by defendant under the act, chapter 163, Laws of 1870, by discounting paper at a greater rate of interest than seven per cent. The referee found, in substance, that the paper described in the complaint was presented to defendant at the times alleged in the complaint, for discount; that plaintiff indorsed and transferred the same to…
1Opinion of the CourtRapallo, J.
In order to maintain this action it was neces sary for the plaintiff t'o establish, not only that a greater rate of interest than seven per cent had been charged by the defendants on the discounts set forth in the complaint, but that such interest had been paid by him. It is claimed on the part of the defendant that, although illegal interest is • found to have been charged, the findings fail to show the payment of such interest.
The findings are that the commercial paper described in the complaint was presented by the plaintiff to the defendant for discount, and thereupon indorsed and…
2Cited by10 opinions
- Meserole Securities Co. v. CosmanNew York Court of Appeals · 1930
- Ferris v. WilcoxMichigan Supreme Court · 1883
- Danforth v. National State Bank of ElizabethCourt of Appeals for the Third Circuit · 1891
- Johnson v. . National Bank of GloversvilleNew York Court of Appeals · 1878
- Rosen v. Columbia Savings & Loan Ass'nNew York Supreme Court · 1961
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