Flour City National Bank v. Widener
New York Court of Appeals
Appeal from a judgment of the Supreme Court, entered December 23, 1897, upon an order of the Appellate Division in the fourth judicial department, overruling defendant’s exceptions, ordered to be heard in the first instance by the Appellate Division, denying a motion for a new trial and directing judgment for plaintiff upon a verdict directed at a Trial 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 Supreme Court, entered December 23, 1897, upon an order of the Appellate Division in the fourth judicial department, overruling defendant’s exceptions, ordered to be heard in the first instance by the Appellate Division, denying a motion for a new trial and directing judgment for plaintiff upon a verdict directed at a Trial Term. The nature of the action and the facts, so far as material, are stated in the opinion. Widener did not render himself liable for the note in action by the mere act of purchasing the interest of Petrie in the business and effects of Smith…
1Opinion of the CourtBartlett, J.
The material facts out of which this controversy arises are as follows: Smith and Petrie were engaged in the wall paper business in the city of Rochester from 1890 to May 23, 1894; during that time they kept a bank account with the plaintiff. On the 21st of March, 1894, the plaintiff discounted a note of the firm, payable in three months, for five hundred dollars. The proceeds of this discount were used in the business of the firm.
On the 23rd of May, 1894, by a written agreement between the parties, Petrie sold and transferred to the defendant Widener his interest in the firm of Smith &…
2Cases cited4 opinions
- Fairchild v. . FairchildNew York Court of Appeals · 1876
- Peyser v. . MyersNew York Court of Appeals · 1892
- Serviss v. . McDonnellNew York Court of Appeals · 1887
- Hotopp v. . HuberNew York Court of Appeals · 1899
3Cited by5 opinions
- M. & C. Creditors Corp. v. PrattNew York Supreme Court · 1938
- State Bank of Pike v. . BrownNew York Court of Appeals · 1901
- Riley v. LarocqueNew York Supreme Court · 1937
- In Re Monetary GroupUnited States Bankruptcy Court, M.D. Florida · 1989
- Braitman v. VasileAppellate Division of the Supreme Court of the State of New York · 1998