Johnson v. Hersey
Supreme Judicial Court of Maine
On report. Assumpsit on a promissory note of the following tenor : “ For value received we promise to pay R. 0. Johnson or order two thousand dollars one year from date, with interest semi-annu- ■ ally at six per cent as it accrues. (Signed) Hersey & Woodward, prin. H. H. Johnson, surety. Belfast, Dec. 7, 1869.” Writ dated March 15, 1878, and was served same day on Belfast National Bank, trustee. The facts sufficiently appear in the opinion.
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On report. Assumpsit on a promissory note of the following tenor : “ For value received we promise to pay R. 0. Johnson or order two thousand dollars one year from date, with interest semi-annu- ■ ally at six per cent as it accrues. (Signed) Hersey & Woodward, prin. H. H. Johnson, surety. Belfast, Dec. 7, 1869.” Writ dated March 15, 1878, and was served same day on Belfast National Bank, trustee. The facts sufficiently appear in the opinion. The question of the liability of the trustee was submitted to the law court upon so much of the disclosure, allegations and testimony as is legally…
1Opinion of the CourtPeters, J.
The bank (alleged trustee) held a note against Woodward, one of the firm of Hersey & Woodward. The firm was insolvent. Without the knowledge or consent of his partner, Woodward drew drafts upon the copartnership funds, and passed them to the bank in payment of his individual note. The bank knew that it was a misapplication of the funds of the firm, as the papers were, per se, a perfect notice of the fact. A creditor of the firm has sued the partners upon a firm debt, and trusteed the bank for the sums thus paid on Woodward’s private note. Can the attachment be sustained? We think it can.
One…
2Cases cited8 opinions
- N. Rogers & Sons v. BatchelorSupreme Court of the United States · 1838
- Wilson v. . RobertsonNew York Court of Appeals · 1860
- Locke v. LewisMassachusetts Supreme Judicial Court · 1878
- Welles v. . MarchNew York Court of Appeals · 1864
- Calkins v. . SmithNew York Court of Appeals · 1872
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3Cited by2 opinions
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- Ferry v. Home Savings BankMichigan Supreme Court · 1897