Kerr Steamship Co. v. Chartered Bank of India, Australia & China
New York Court of Appeals
I. Delivery of the negotiable instrument to plaintiff, consummated an executed sale; and thenceforth plaintiff could not go behind the negotiable instrument to rescind the exécuted transaction by which plaintiff had purchased the instrument. (American Express Go. v. Cosmopolitan Trust Go., 239 Mass. 249; Gravenhorst v. Zimmerman, 236 N. Y. 22; Moe v. Bank of United States, 211 App. Div. 519; Auerbach v. Barrett, 214 App.
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I. Delivery of the negotiable instrument to plaintiff, consummated an executed sale; and thenceforth plaintiff could not go behind the negotiable instrument to rescind the exécuted transaction by which plaintiff had purchased the instrument. (American Express Go. v. Cosmopolitan Trust Go., 239 Mass. 249; Gravenhorst v. Zimmerman, 236 N. Y. 22; Moe v. Bank of United States, 211 App. Div. 519; Auerbach v. Barrett, 214 App. Div. 279; Carmen v. Higginson, 245 Mass. 511; Samuels v. E. F. Drew Go.', 296 F. 882; 62 A. L. R. 509.) II. The character of the initial transaction as an executed sale is…
1Opinion of the Court
LehmaN, Ch. J.
The plaintiff sues to recover the sum of $18,437.10 which it paid to the defendant hank on November 28, 1941, when it procured from the defendant bank two documents in the form of a draft “ in first and second exchange ” drawn by The Chartered Bank of India, Australia and China in New York upon The Chartered Bank of India, Australia and China in Manila and payable there on demand to the order of Roosevelt Steamship Agency, Inc. Claiming that war with Japan and the invasion of the Philippine Islands by Japan has made it impossible for the defendant bank to carry out its…
2Cases cited9 opinions
- Armstrong v. American Exchange Nat. Bank of ChicagoSupreme Court of the United States · 1890
- Gravenhorst v. . ZimmermanNew York Court of Appeals · 1923
- Vander Ploeg v. Van ZuukSupreme Court of Iowa · 1907
- Richard v. American Union BankNew York Court of Appeals · 1930
- American Express Co. v. Cosmopolitan Trust Co.Massachusetts Supreme Judicial Court · 1921
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3Cited by13 opinions
- Nat. Newark & Essex Bank v. GiordanoNew Jersey Superior Court Appellate Division · 1970
- International Firearms Co. v. Kingston Trust Co.New York Court of Appeals · 1959
- Rose Check Cashing Service, Inc. v. Chemical Bank New York Trust Co.Appellate Terms of the Supreme Court of New York · 1964
- George T. Aratani v. Robert F. Kennedy, Attorney General of the United StatesCourt of Appeals for the D.C. Circuit · 1963
- Cable & Wireless, Ltd. v. Yokohama Specie Bank, Ltd.New York Supreme Court · 1948
8 more not listed; retrieve them via the Exa API.