Merchants' Bank v. Elderkin
New York Court of Appeals
Appeal from the Supreme Court. Action against the indorser of a promissory note, who defended on the ground that there had been no sufficient presentment or demand of payment. The facts are stated sufficiently in the following opinion. Judgment for the plaintiff having been ordered by a referee and affirmed at general term in the fourth district, the defendant appealed to this court.
1Opinion of the CourtGould, J.
The plaintiff sent the note to its correspondent . in Troy, the Commercial Bank, to be collected. The Commercial Bank, before the commencement of banking hours, on the last day of grace, sent the note to the Troy City Bank, at which the note was, by its tenor, payable. The note remained there until between one and two o’clock of the afternoon of that day (their banking hours ending at two), and was then, before two, returned to the Commercial .Bank, unpaid, and the cashier of the latter bank (being a notary), gave the notice' of protest to the indorsers. There were no funds in the City Bank…
2Cases cited1 opinion
- Gillett v. Averill & SeymourNew York Supreme Court · 1847