Bank of Rutland v. Buck
New York Supreme Court
This cause came before the court on a case made by consent. The action was on'a promissory note for $1200, dated in June, 1826, made by the defendants, and payable to the president, directors and company of the bank of Rut-land ninety days after date. The note was made to enable Spear and Everest to raise money for their own accommodation ; it was signed by Buck as surety, and delivered by him to Spear and Everest.
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This cause came before the court on a case made by consent. The action was on'a promissory note for $1200, dated in June, 1826, made by the defendants, and payable to the president, directors and company of the bank of Rut-land ninety days after date. The note was made to enable Spear and Everest to raise money for their own accommodation ; it was signed by Buck as surety, and delivered by him to Spear and Everest. It was offered for discount at the Bank of Rutland, which bank declined to discount it, and subsequently and prior to its becoming due, it was delivered over by Spear and Everest…
1Opinion of the Court
By the Court,
Savage, Ch. J.
I can see no well founded objection to a recovery upon this note. It was drawn for the purpose of raising money for the accommodation of the two makers, Spear and Everest, who have had the benefit of it. Had House & Co. advanced money on it to those two mak*69ers, the case would be precisely within the case of Powell v. Waters, 17 Johns. R. 176. It was immaterial to the surety who advanced the money, provided Spear and Everest had the benefit, of it. It did not alter his responsibility; nor was there any fraud in House & Co. taking the note for a debt due to them. It…
2Cited by46 opinions
- Grocers' Bank v. Buffalo & PenfieldNew York Court of Appeals · 1877
- Commercial Bank of Buffalo v. . WarrenNew York Court of Appeals · 1857
- Smith v. MoberlyCourt of Appeals of Kentucky · 1850
- Keith v. GoodwinSupreme Court of Vermont · 1858
- Bank of New York v. VanderhorstNew York Court of Appeals · 1865
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