American Preservers Co. v. Columbia Investment Co.
The Superior Court of the City of New York and Buffalo
Action by the American Preservers Company against the Columbia Investment Company. A verdict was rendered in favor of plaintiff, and defendant moves for a new trial. Denied.
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Action by the American Preservers Company against the Columbia Investment Company. A verdict was rendered in favor of plaintiff, and defendant moves for a new trial. Denied. Plaintiff’s general manager purchased of defendant certain shares of its stock, and gave for the price plaintiff’s check, on the face of which was printed, in large letters, “American Preservers Company,” and at the bottom again the words “American Preservers Company, per,” followed by a blank for the signature, after which was printed “Manager.” Defendant took the check, deposited it in its bank for collection, and the…
1Opinion of the CourtHatch, J.
The transaction between Tomes and defendant was an individual transaction, entirely independent of any business carried on by plaintiff, or of any matter which Tomes, as general manager, was authorized to do for it. Of this fact defendant was advised, or could have been so advised, if it had made inquiry. Making no inquiry, it stood chargeable with all the knowledge it would have obtained had it done so. When it took the check it knew that it was not Tomes’ check, but -the check of plaintiff, for it so read. Consequently, it took it at its peril, and became liable to plaintiff therefor for…
2Cases cited4 opinions
- Van Alen v. . American National BankNew York Court of Appeals · 1873
- Stephens v. . Board of EducationNew York Court of Appeals · 1879
- Gerard v. . McCormickNew York Court of Appeals · 1891
- Gerard v. McCormickNew York Court of Common Pleas · 1890