Lorillard v. Clyde
The Superior Court of New York City
Appeal by defendants from a judgment in favor of plaintiff, entered on a verdict of a jury, as directed by the court. The action was upon an agreement between the parties, in which a firm, of which appellant was one partner, agreed to “ guarantee Jacob Lorillard,” the plaintiff, “a dividend of not less than7per cent, per annum for seven years” upon certain stock in an incorporated company, to be taken by plaintiff under the agreement, which provided that the company was to…
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Appeal by defendants from a judgment in favor of plaintiff, entered on a verdict of a jury, as directed by the court. The action was upon an agreement between the parties, in which a firm, of which appellant was one partner, agreed to “ guarantee Jacob Lorillard,” the plaintiff, “a dividend of not less than7per cent, per annum for seven years” upon certain stock in an incorporated company, to be taken by plaintiff under the agreement, which provided that the company was to be formed in the future. The particulars of this agreement are stated in the opinion of the court of appeals in Lorillard…
1Opinion of the Court
By the Court.—Sedgwick, Ch. J.
On the trial, the counsel for defendants claimed that the defense of the illegality of the agreement complained upon was res adjudieata between the parties, in an action formerly determined by the supreme court. The record in the action was produced. The plaintiff was The People of the State of New York, against The Philadelphia & New York Steam Navigation Company, William P. Clyde, Benjamin Betts, John A. Leslie and Amos Rogers.
The complaint alleged that, on June 10, 1874, the individual defendants and others executed articles of association to form a company…
2Cases cited9 opinions
- Perry v. . DickersonNew York Court of Appeals · 1881
- Lorillard v. . ClydeNew York Court of Appeals · 1881
- Stowell v. . ChamberlainNew York Court of Appeals · 1875
- Webb v. . BuckelewNew York Court of Appeals · 1880
- Dawley v. . BrownNew York Court of Appeals · 1880
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