Ives v. Jacobs
City of New York Municipal Court
Motion to set aside verdict and for new trial. The two promissory jiotes on which this action is brought, were delivered, by Lindau (the maker and payee thereof) to one Breck, with Jacobs as prior indorser thereon, for accommodation-and without consideration, and by Breck directly passed to the plaintiff, in payment of an indebtedness for merchandise-sold by plaintiff unto Breck, and by him previously received.
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Motion to set aside verdict and for new trial. The two promissory jiotes on which this action is brought, were delivered, by Lindau (the maker and payee thereof) to one Breck, with Jacobs as prior indorser thereon, for accommodation-and without consideration, and by Breck directly passed to the plaintiff, in payment of an indebtedness for merchandise-sold by plaintiff unto Breck, and by him previously received. Mr. Lindau,. owing money to Breck, had given to Breck, as collateral, his (Lindau’s) notes,, of three months each, with Jacobs’ indorsement for Lindau’s accommodation, to be held until…
1Opinion of the CourtPitshke, J.
The answer distinctly sets up that the transfer unto the plaintiff of the notes in suit, though before maturity, was not for value, and theindorsement by Jacobs was solely for the maker’s accommodation, for which Mr. Jacobs received no consideration whatever. If the plaintiff is not an indorsee for a valuable consideration, the question as regards his having had notice of the averred “diversion” of said notes becomes immaterial; for, if not such an indorsee, he stands just where his transferrer stood. That is the whole of this case, even were the plaintiff a transferee without notice of any…
2Cases cited19 opinions
- Comstock v. . HierNew York Court of Appeals · 1878
- Grocers' Bank v. Buffalo & PenfieldNew York Court of Appeals · 1877
- Moore v. . CrossNew York Court of Appeals · 1859
- Cohn v. . GoldmanNew York Court of Appeals · 1879
- Coulter v. . RichmondNew York Court of Appeals · 1875
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