New York Firemen Insurance v. Sturges
New York Supreme Court
As.sumpsit,,against .the second endorsei of a promissory note> drawn by Peters & Harrison, in favor o' Thomas C. Butler, jun..and .endorsed by him and .the defendant.
Read the full summary
As.sumpsit,,against .the second endorsei of a promissory note> drawn by Peters & Harrison, in favor o' Thomas C. Butler, jun..and .endorsed by him and .the defendant. The .note was dated the ¡11th of January, .18:19, payable four months after date, for 1000 dollars, 7 7 The.cause was .tried before his honor Ambrose Spencer; date-Chief Justice, at the Sittings in New York, June 7th, 1821. ... , „ , , . William M’Neu,.a witness on the part of .the.plaintiffs, •PrQvecl the hand-writing of the drawers, and of both the .endorsers. David Codvyise, another witness for the plaintiffs, proved demand…
1Opinion of the Court
[Woodworth, J.
I do not understand the plaintiffs’ counsel as contending for the general power of discount. Most clearly that cannot be sustained.]
*670Wells. The case of the Utica Insurance Company v. Scott, was a much stronger case for the plaintiffs than the present. What possible difference is there from a mere bank discount ? In substance it will be found the same.
2. The note is void within the restraining act. This posi tion was also examined in-the Utica Insurance Company v. Scott. There, as here, the funds of the company were applied to the discount of notes. The argument on the other side…
2Cases cited3 opinions
- People ex rel. Attorney General v. Utica InsuranceNew York Supreme Court · 1818
- President & Directors of Manhattan Co. v. OsgoodNew York Supreme Court · 1818
- Bristol v. BarkerNew York Supreme Court · 1817
3Cited by18 opinions
- Chautauque County Bank v. . RisleyNew York Court of Appeals · 1859
- First Nat. Bank v. . Ocean Nat. BankNew York Court of Appeals · 1875
- Union Savings Bank & Trust Co. v. DottenheimSupreme Court of Georgia · 1899
- Straus v. Eagle InsuranceOhio Supreme Court · 1855
- Saltmarsh v. P. & M. BankSupreme Court of Alabama · 1848
13 more not listed; retrieve them via the Exa API.