Hagar & Derby v. King
New York Supreme Court
THIS was an appeal from a judgment entered at the circuit, upon a verdict. The complaint alleged that in December, 1853, the firm of King, Stancliffe & Co., of which firm the defendant was a member, were indebted to the plaintiffs in the sum of $8207.75 for work performed by the plaintiffs in graveling a portion of the Canandaigua and Niagara Falls rail road.
Read the full summary
THIS was an appeal from a judgment entered at the circuit, upon a verdict. The complaint alleged that in December, 1853, the firm of King, Stancliffe & Co., of which firm the defendant was a member, were indebted to the plaintiffs in the sum of $8207.75 for work performed by the plaintiffs in graveling a portion of the Canandaigua and Niagara Falls rail road. That the plaintiffs received in payment of said debt, from the rail road company, their . bonds to the amount of $10,000, upon the promise and agreement of the defendant, that in consideration that they would receive said bonds in…
1Opinion of the CourtWelles, J.
The contract between the plaintiffs and the defendant, upon which the judgment was recovered, was, substantially, that in consideration that the plaintiffs would receive the $10,000 of rail ¡road bonds in payment of the indebtedness of King, Stancliffe & Co. to the plaintiffs of $8207.75, the defendant would at a future day, at the plaintiff’s request, purchase the same bonds of the plaintiffs, and pay them therefor the said sum of $8207.75, &c. The action is upon this contract of the defendant to purchase the bonds. It was unquestionably valid, at common law. The consideration was the…
2Cases cited1 opinion
- Mallory v. . GillettNew York Court of Appeals · 1860
3Cited by9 opinions
- Ansley v. HightowerSupreme Court of Georgia · 1904
- Johnston v. . TraskNew York Court of Appeals · 1889
- Morse v. DouglassAppellate Division of the Supreme Court of the State of New York · 1906
- Gainsburg v. BachrackAppellate Division of the Supreme Court of the State of New York · 1934
- Chamberlain v. JonesAppellate Division of the Supreme Court of the State of New York · 1898
4 more not listed; retrieve them via the Exa API.