People ex rel. Manhattan Savings Institution v. Otis
New York Supreme Court
Appeal from an order made at Special Term, granting to tlie relator, The Manhattan Savings Institution of the City of New York, a writ of peremptory mandamus directed to Norton P. Otis, mayor of the city of Yonkers, and William H. Doty, clerk of said city, commanding them forthwith to execute and deliver to the said relator duplicates of certain bonds of the city of Yonkers, with their accompanying coupons, therein mentioned.
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Appeal from an order made at Special Term, granting to tlie relator, The Manhattan Savings Institution of the City of New York, a writ of peremptory mandamus directed to Norton P. Otis, mayor of the city of Yonkers, and William H. Doty, clerk of said city, commanding them forthwith to execute and deliver to the said relator duplicates of certain bonds of the city of Yonkers, with their accompanying coupons, therein mentioned. The original bonds, 118 in number, for $1,000 each, with their accompanying coupons, were payable to bearer, and were of the bonds known as tbe “ City of Yónkers Seven…
1Opinion of the Court
GILBERT, J.:
The right of the relator to a mandamxis depends upon the validity of the act of March 12,1880. (Ch. 59.) We are of opinion that the act is invalid for two reasons. 1st. The provision exempting the city of Yonkers from liability on account of the bonds originally issued, after the duplicates shall have been delivered, plainly impairs the obligation of the contracts created by such original bonds. It is not an answer to this objection to say that'the act merely destroys the negotiability of the bonds after a specified time. For that of itself would impair the obligation of the…
2Cases cited4 opinions
- Horton v. . Town of ThompsonNew York Court of Appeals · 1878
- People Ex Rel. D., Etc., R.R. Co. v. . BatchellorNew York Court of Appeals · 1873
- New Orleans, Jackson & Great Northern Railroad v. Mississippi CollegeMississippi Supreme Court · 1873
- Chesapeake & Ohio Canal Co. v. BlairCourt of Appeals of Maryland · 1876