American Exchange National Bank v. Woodlawn Cemetery
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered June 19, 1907, affirming a judgment in favor of plaintiff entered upon the report of a referee. This action was brought by the plaintiff to recover, by way of damages, the loss occasioned to it from having made a loan of money upon spurious certificates of shares, which had been fraudulently issued by one of the officers of the defendant.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered June 19, 1907, affirming a judgment in favor of plaintiff entered upon the report of a referee. This action was brought by the plaintiff to recover, by way of damages, the loss occasioned to it from having made a loan of money upon spurious certificates of shares, which had been fraudulently issued by one of the officers of the defendant. The defendant was a cemetery association, organized and existing under chapter 133 of the Laws of 1847 and the acts amendatory thereof. In Hay,…
1Opinion of the CourtGray, J.
It is the contention of the plaintiff that the defendant is liable to it for the loss sustained from the making of a loan upon spurious certificates of -shares. As they were fraudulently issued by one of its officers, it is responsible, it is claimed, for his wrongful act, within the rule of law established by the decision in the case of New York & New Haven R. R. Co. v. Schuyler (34 N. Y. 30, 49). The argument maintains that, as the defendant had power to issue such certificates and as its charter did not exempt it from liability for the acts of its agents, if they abused their authority, it…
2Cases cited5 opinions
- Bush v. . LathropNew York Court of Appeals · 1860
- Knox v. Eden Musee Americain Co.New York Court of Appeals · 1896
- New York & New Haven Railroad v. SchuylerNew York Court of Appeals · 1865
- Leitch v. . WellsNew York Court of Appeals · 1872
- Zander v. New York Security & Trust Co.New York Court of Appeals · 1904
3Cited by27 opinions
- People's Trust Co. v. . SmithNew York Court of Appeals · 1915
- Sherwood Memorial Gardens, Inc., (Tennessee) v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1965
- Sherwood Memorial Gardens, Inc. v. CommissionerUnited States Tax Court · 1964
- State Bank v. Central Mercantile BankNew York Court of Appeals · 1928
- Commissioner of Internal Revenue v. Kensico CemeteryCourt of Appeals for the Second Circuit · 1938
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