Pittsburgh-Westmoreland Coal Co. v. . Kerr
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered October 21, 1915, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the fourth judicial department, entered October 21, 1915, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion. The equities of William B. Kerr as an accommodation indorser are at least equal to the equities of the plaintiff, and in case of equal equities, subrogation is not allowed. (Strickland v. Magoun, 119 App. Div. 117; Title G. & T. Co. v. Haven, 196 N. Y. 487; 214 N. Y. 468;…
1Opinion of the CourtChase, J.
This action is brought to subrogate the plaintiff to the right which the Third National Bank of Buffalo had in a certain promissory note on the 23d day of October, 1911, and to recover judgment for the amount of said note, interest and protest fees.
The doctrine of subrogation is a device to promote justice. We shall never handle it unwisely if that purpose controls the effort and the resultant equity is steadily kept in view. (Acer v. Hotchkiss, 97 N. Y. 395.)
On October 23, 1911, the bank was the owner of a promissory note of $2,500 made by one John K. Kerr and indorsed for his accommodation…
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