Tombeckbee Bank v. Stratton
New York Supreme Court
This was an action of assumpsit tried at the New-York circuit, before the Hon. Ogden Edwards, one of the circuit judges.
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This was an action of assumpsit tried at the New-York circuit, before the Hon. Ogden Edwards, one of the circuit judges. The action was brought to recover the damages upon three bills of exchange, drawn by the defendants, and protested for non-payment, ihe principal and interest of the bills having, after protest, been paid, partly by the drawers and partly by a surety of the drawers, with an express reservation of the right of the plaintiffs to demand the damages of the defendants, made at the time of the payment by the surety. The facts of the case are as follows: The defendants were…
1Opinion of the Court
*431 By the Court,
Nelson, J.
The first objection urged by the defendants to setting aside the nonsuit is, that the case discloses a loan by the bank to the firm of T. N. Niles & Co., upon the guaranty of Bloodgood alone, as the acceptance of Stratton and Winthrop added nothing to the security, they being holden as drawers; and that therefore the transaction is not to be viewed in the light of a regular negotiation of a bill of exchange in the usual course of business, although assuming that form. It is a sufficient answer to' this objection, admitting it to be sound, that it was not taken at the…
2Cited by1 opinion
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