Shutts v. . Fingar
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made July 2, 1883, which affirmed a judgment in favor of plaintiff, entered upon a decision of the court on trial without a jury. This action was brought against defendant as indorser of a joint and several promissory note dated March 19, 1866, for $500, payable on demand, with interest, made by Jacob Niver, James Ham and Norman Niver.
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Appeal from judgment of the General Term of the Supreme Court, in the third judicial department, entered upon an order made July 2, 1883, which affirmed a judgment in favor of plaintiff, entered upon a decision of the court on trial without a jury. This action was brought against defendant as indorser of a joint and several promissory note dated March 19, 1866, for $500, payable on demand, with interest, made by Jacob Niver, James Ham and Norman Niver. Defendant became the owner of the note soon after its execution ; he indorsed and transferred it in April, 1868. Plaintiff became the owner in…
1Opinion of the Court
Bugeb, Oh. J.
We think the court below erred in applying the doctrine of Merritt v. Todd (23 N. Y. 29) to the facts of this case, and that its true solution is to be found in the rules prescribing the duties and obligations of a creditor to his surety. This court, in the case of Parker v. Stroud (98 N. Y. 379), following Merritt v. Todd, expressly reserved from the effect of the "decision, the question as to the liability of the indorser, when the maker had been released from liability, by the loches of the holder. The doctrine of Merritt v. Todd has been so long acquiesced in, and has been…
2Cases cited12 opinions
- Townsend v. . WhitneyNew York Court of Appeals · 1878
- Trimble v. ThorneNew York Supreme Court · 1819
- Clason v. MorrisCourt for the Trial of Impeachments and Correction of Errors · 1812
- Stewart v. EdenNew York Supreme Court · 1804
- Barhydt v. . EllisNew York Court of Appeals · 1871
7 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- Spies v. . National City BankNew York Court of Appeals · 1903
- Executive Bank of Fort Lauderdale v. TigheAppellate Division of the Supreme Court of the State of New York · 1978
- Leslie Fay, Inc. v. RichDistrict Court, S.D. New York · 1979
- Sturdivant v. McCorleySupreme Court of Arkansas · 1907
- Plankinton v. GormanWisconsin Supreme Court · 1896
23 more not listed; retrieve them via the Exa API.