Legal Opinion
The President Arthur
District Court, S.D. New York
Decided September 13, 1927PublishedCited by 3 opinions
1Opinion of the CourtThacher, District Judge
(after stating the facts as above). The rule is settled that, when a note of a third party is taken at the time of the creation of a debt, as upon a sale of goods, the presumption is that it was taken in payment. Atlas S. S. Co. v. Colombian Land Co., 102 F. 358 (C. C. A. 2d); N. Y. & Cuba S. S. Co. v. Texas Co., 282 F. 221 (C. C. A. 2d); Hall v. Stevens, 116 N. Y. 201, 22 N. E. 374, 5 L. R. A. 802.
There is no need for such presumption in this case, because the agreement expressly required payment coincidentally with the delivery of the coal by delivery of trade acceptances bearing three…
2Cases cited3 opinions
- Hall v. . StevensNew York Court of Appeals · 1889
- Atlas S. S. Co. v. Colombian Land Co.Court of Appeals for the Second Circuit · 1900
- New York & Cuba Mail S. S. Co. v. Texas Co.Court of Appeals for the Second Circuit · 1922
3Cited by3 opinions
- South Carolina State Ports Authority v. M/V Tyson LykesCourt of Appeals for the Fourth Circuit · 1995
- Guerin v. Morse Dry Dock & Repair Co.District Court, S.D. New York · 1930
- South Carolina State Ports Authority v. M/v Tyson Lykes, Ex Delaware Bay, Her Engines, Tackles, Apparel, Furniture, Etc., in Rem, South Carolina State Ports Authority v. M/v Tyson Lykes, Ex Delaware Bay, Her Engines, Tackles, Apparel, Furniture, Etc., in Rem, South Carolina State Ports Authority v. M/v Tillie Lykes, Ex Chesapeake Bay, Her Engines, Tackles, Apparel, Furniture, Etc., in Rem, South Carolina State Ports Authority v. M/v Tillie Lykes, Ex Chesapeake Bay, Her Engines, Tackles, Apparel, Furniture, Etc., in RemCourt of Appeals for the Fourth Circuit · 1995