Pitts v. . Congdon
New York Court of Appeals
Assumpsit brought in the court of common pleas of the city of New-York, against Charles Pitt and William Pitt, as the endorsers of certain promissory notes made by John S. Lawrence and payable to the defendants’ order. The suit was brought for the benefit of one Hillsburgh, between whom and the defendants there had been extensive dealings, and to whom the dmendants had transferred the notes for value in the usual course of business.
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Assumpsit brought in the court of common pleas of the city of New-York, against Charles Pitt and William Pitt, as the endorsers of certain promissory notes made by John S. Lawrence and payable to the defendants’ order. The suit was brought for the benefit of one Hillsburgh, between whom and the defendants there had been extensive dealings, and to whom the dmendants had transferred the notes for value in the usual course of business. After Hillsburgh became the holder of the notes, Lawrence, the maker, "executed to him a bond and mortgage as collateral security for the payment thereof. The…
1Opinion of the CourtGardiner, J.
-If the endorser of negotiable paper for value, in the ordinary course of business, is a surety for the maker, or acceptor, the judgment of the common pleas is erroneous, and should be reversed. This is the sole question in the cause.
In a variety of cases, and in books of undoubted authority, we find it said that drawers and endorsers are in the “ light of sureties, in the nature of sureties,” &c. (3 Kent’s Com. 112 marginal paging; 21 Wend. 504; 4 Hill, 216; 4 Bingham, 717; 9 Cowen, 264.) But we have been referred to no adjudication, nor have I been able to find one, in which it has been…
2Cases cited2 opinions
- Griffith v. ReedNew York Supreme Court · 1839
- Crouch v. EvelethMassachusetts Supreme Judicial Court · 1815
3Cited by15 opinions
- Van Winkle Gin & MacHinery Co. v. Citizens' Bank of BuffaloTexas Supreme Court · 1896
- Blanchard v. . BlanchardNew York Court of Appeals · 1911
- Spies v. . National City BankNew York Court of Appeals · 1903
- First Natl. Bank of Schulenburg v. WinklerTexas Supreme Court · 1942
- Howard County v. BakerSupreme Court of Missouri · 1894
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