Commercial Bank of Buffalo v. Sparrow
New York Supreme Court
Demurrer. The declaration contained the common money counts in assumpsit and claimed damages to $5000. Sparrow pleaded, 1. Non assumpsit: 2. Non assumpsit, as to all the damages- except $2500, and as to that sum that the plaintiff was a banking corporation, created by an act of the legislature passed April 26th, 1834, rvith a capital of $400,000, and was made subject to the provisions of the safety fund act; and that after-wards, to wit, on the 16th day of May, 1837, an act…
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Demurrer. The declaration contained the common money counts in assumpsit and claimed damages to $5000. Sparrow pleaded, 1. Non assumpsit: 2. Non assumpsit, as to all the damages- except $2500, and as to that sum that the plaintiff was a banking corporation, created by an act of the legislature passed April 26th, 1834, rvith a capital of $400,000, and was made subject to the provisions of the safety fund act; and that after-wards, to wit, on the 16th day of May, 1837, an act of the legislature was passed entitled, “ an act suspending for a limited time certain provisions of law, and for other…
1Opinion of the Court
By the Court, Beardsley, J.
The second, third and fourth pleas of Sparrow, and the,fourth,.ffth and sixth, of Clark, am *101alike in principle, and may be disposed of on one and the same ground.
By the act to incorporate the plaintiff as a banking corporation, its Capital stock was to be four hundred thousand dollars, and the act declared that it should “not be lawful for said corporation to issue, or to have outstanding br in circulation at any time, an amount of notes or bills loaned or put in circulation as money,'exceeding once and an half its Capital stock then paid in and actually possessed.”…
2Cited by10 opinions
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