Bracken v. . Atlantic Trust Co.
New York Court of Appeals
Cross-appeals from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered July 8, 1899, affirming a judgment in favor of defendant, the Atlantic Trust Company, entered upon a verdict directed by the court. This action was commenced to recover damages of the Atlantic Trust Company for its neglect of a duty alleged to be owing to the plaintiff, as the holder of. certain bonds of the Julien Electric Traction Company.
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Cross-appeals from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered July 8, 1899, affirming a judgment in favor of defendant, the Atlantic Trust Company, entered upon a verdict directed by the court. This action was commenced to recover damages of the Atlantic Trust Company for its neglect of a duty alleged to be owing to the plaintiff, as the holder of. certain bonds of the Julien Electric Traction Company. These bonds were issued, in 1889, to the extent of $102,000, and were secured by a mortgage to the Mercantile Trust Company, as trustee,…
1Opinion of the CourtGray, J.
The direction of the verdict at the Trial Term in favor of the respondent, the Atlantic Trust Company, was made in pursuance of a prior determination by the Appellate Division, which reversed a judgment recovered by the plaintiff. The Appellate Division had held, upon what was the main question in the case, that the bondholders were bound by the judgment which their trustee, the Mercantile Trust Company, had obtained, in 1895, and were privy to it; that the effect must be the same as though the previous action had been brought in the names of the bondholders, and that the recovery of the…
2Cases cited2 opinions
- Stowell v. . ChamberlainNew York Court of Appeals · 1875
- Commerce Exchange National Bank of Chicago v. BlyeNew York Court of Appeals · 1890
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- Van Horne v. TreadwellCalifornia Supreme Court · 1913
- Leslie v. CarterSupreme Court of Missouri · 1916
- Sannini v. CasscellsSupreme Court of Delaware · 1979
- Maasch v. GrauerAppellate Division of the Supreme Court of the State of New York · 1908
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