Williams v. Brown
New York Court of Appeals
William Williams sued William 0. Brown, in the supreme court, on a promissory note dated June 20, 1851, for five hundred and eighty-four dollars and seventy-five cents, payable six months after date, to the order of the Merchants’ Mutual Insurance Company, a corporation under the general act.
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William Williams sued William 0. Brown, in the supreme court, on a promissory note dated June 20, 1851, for five hundred and eighty-four dollars and seventy-five cents, payable six months after date, to the order of the Merchants’ Mutual Insurance Company, a corporation under the general act. Defendant being then president of the company, effected insurance with the company for marine risks, upon the cash or stock plan, and the note in suit he gave to the company for the premium thereon. On September 8,1851, the company became indebted to the president in a sum in excess of the note, and…
1Opinion of the CourtHunt, J.
[after stating the facts.]—That the defendant’s note is a valid claim against him, and that he is bound to pay it, is not disputed by him. His defense in this action arises upon a claim made by him against the insurance company, *608which he insists should be applied in satisfaction of the note in suit.
The right of set-off in this state is statutory. If the defendant’s claim comes within the terms of the statute, he will succeed, and if it does not, he must fail. 2 R. 3. 354, § 18.
The defendant’s claim to a set-off meets the demand of the first six subdivisions of the section referred to. It is a…
2Cases cited3 opinions
- Allen v. . BrownNew York Court of Appeals · 1870
- Beckwith v. . the Union Bank of New-YorkNew York Court of Appeals · 1853
- Allen v. BrownNew York Supreme Court · 1865
3Cited by1 opinion
- Bruce v. CarterNew York Court of Common Pleas · 1877