Southwick v. First National Bank
New York Supreme Court
MotioN for a new trial on exceptions ordered to be heard, in the first instance, at the General Term, after a verdict directed in favor of the plaintiff at the circuit. In 1873, J. N. Merriam & Son were a firm doing business in Boston, and Francis P. Merriam resided in that city.
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MotioN for a new trial on exceptions ordered to be heard, in the first instance, at the General Term, after a verdict directed in favor of the plaintiff at the circuit. In 1873, J. N. Merriam & Son were a firm doing business in Boston, and Francis P. Merriam resided in that city. On March 13, 1873, George H. Thayer, a member of the firm of South worth, Thayer & Co., a firm doing business in Memphis, Tenu., drew ou said firm, in Memphis, a draft for $2,500, payable in forty days after date, to the order of J. N. Merriam & Son. It was accepted by the drawees (Southworth, Thayer & Co.), and…
1Opinion of the Court
Barrett, J. :
This case, although elaborately argued in voluminous briefs, is really in a very narrow compass.
When J. N. Merriam & Son paid their acceptance, they were under no legal obligation to do so. The draft had been substantially diverted by Southworth, Thayer & Co. Such was the legal effect of its application to a different purpose from that authorized by Merriam & Son. The defendant took the paper in reduction of Southworth, Thayer & Co.’s previous over-drafts. It is true that it had no notice of the restriction, but that does not alter the legal aspect, of the case. There was no…
2Cases cited8 opinions
- Comstock v. . HierNew York Court of Appeals · 1878
- Cooke v. . State National Bank of BostonNew York Court of Appeals · 1873
- Justh v. . Nat. B'k of the CommonwealthNew York Court of Appeals · 1874
- Wheadon v. OldsNew York Supreme Court · 1838
- Chester v. . the Bank of KingstonNew York Court of Appeals · 1857
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