Taggard v. Curtenius & Jones
New York Supreme Court
Demurrer to pleas. The plaintiff declared as the endorsee of two promissory notes, made by the defendants, payable to William Taggard Sf Co.': one dated 13th January, 1827, for $1960, and the other dated 28th February, 1827, for $2000, and each payable 60 days after date.
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Demurrer to pleas. The plaintiff declared as the endorsee of two promissory notes, made by the defendants, payable to William Taggard Sf Co.': one dated 13th January, 1827, for $1960, and the other dated 28th February, 1827, for $2000, and each payable 60 days after date. Curtenius, one of the defendants, pleaded, first, that on the day of the date of the second note, the defendants deposited with the payees of the note, of whom the present plaintiff was one, 45 shares of Cheraw Bridge s|ock, 30 shares of- Cheraw Bank stock, and Cheraw Bank bills to the amount of $2000, of the value of…
1Opinion of the Court
By the Court,
Bronson. J.
This is not a plea that the plaintiff has taken a higher security than he had before, and so extinguished the debt. Bacon’s Abr. tit. Extinguishment, (D). Nor is it a plea that he has accepted a collateral thing in satisfaction of the demand, Anderson v. The Highland Turnpike, 16 Johns. R. 86; but it is a plea that the plaintiff has received certain bridge and bank stock and bank bills, “ as collateral security” for the payment of the notes. This is no answer to the action. It did not absolve the defendants from their undertaking to pay the notes when they should fall…
2Cited by12 opinions
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- Hook v. WhiteCalifornia Supreme Court · 1868
- First Trust & Deposit Co. v. PotterNew York Supreme Court · 1935
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