Spring Brook Chemical Co. v. Dunn
Appellate Division of the Supreme Court of the State of New York
Submission of a controversy upon an agreed statement of facts, pursuant to section 1279 of the Code- of Civil Procedure.
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Submission of a controversy upon an agreed statement of facts, pursuant to section 1279 of the Code- of Civil Procedure. In this case the plaintiff claimed from the defendant the sum of $495, being a part of the proceeds of two drafts, one for $1,225.98, the other for $1,018.81, which the plaintiff had deposited with the firm of Ross & Sons in payment of an overdraft of $1,749.79.; or that the defendant indorse said sum of $495, upon a note of $2,000 held by him, as a payment of such note.
1Opinion of the Court
Parker, P. J.:
The first question to decide is whether the firm of Ross & Sons acquired any title to the drafts in question.
The transaction was in effect as follows: Plaintiff offered two *131drafts to the aggregate amount of $2,244.79 in satisfaction of its overdraft of $1,749.79, and asked that the balance of $495 be put to its credit in its account with the firm. To the extent of that $495 it was in the nature of a loan, to be repaid on demand by the firm, and lienee the obligation was imposed, on the firm, not to take such a loan without disclosing its insolvent condition. So far as either…
2Cases cited3 opinions
- Cragie v. . HadleyNew York Court of Appeals · 1885
- Mayer v. . HeidelbachNew York Court of Appeals · 1890
- Grant v. . WalshNew York Court of Appeals · 1895
3Cited by5 opinions
- Blair v. HillAppellate Division of the Supreme Court of the State of New York · 1900
- Sutherland v. MeadAppellate Division of the Supreme Court of the State of New York · 1903
- Sutherland v. MeadAppellate Division of the Supreme Court of the State of New York · 1903
- In re Hopper-Morgan Co.District Court, N.D. New York · 1907
- Consolidation National Bank v. KirklandAppellate Division of the Supreme Court of the State of New York · 1904