Columbian Insurance v. Black
New York Supreme Court
THIS was an action of assumpsit on a promissory note, 1 1 J 7 against the defendant as endorser. The note was made by © y John Graham Codated the 11th of Februaryy 1813. for 8()(H dollars and 23 cents, payable to the defendant or order, nine months after date, and endorsed by him to the plaintiffs.
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THIS was an action of assumpsit on a promissory note, 1 1 J 7 against the defendant as endorser. The note was made by © y John Graham Codated the 11th of Februaryy 1813. for 8()(H dollars and 23 cents, payable to the defendant or order, nine months after date, and endorsed by him to the plaintiffs. The defendant pleaded the general issue, and gave notice of a set-off of several sums, and, also, of the further sum of 11,428 dollars, for a total loss of freight of the schooner Dick, insured by the plaintiffs, and of which they had notice, proof, &c. The cause was tried at the New- York…
1Opinion of the Court
Spences, Ch. J.
delivered the opinion of the Court. This suit is on a premium note on a policy, underwritten by the plaintiffs, on the schooner Fanny, on the 11th of February, 1613. The insurance was effected by the defendant, for the owners of the Fanny, and the voyage ended safely.
The first objection to the plaintiffs’ recovery is, that there was a failure of consideration for the note. It has been urged, that the company was insolvent when they underwrote the policy, and that, therefore, had a loss taken place, the'assured would have had no indemnity, and that under these circumstances, it…
2Cited by3 opinions
- Hitchcock v. RolloU.S. Circuit Court for the Northern District of Illnois · 1872
- Merchants' Steamship Co. v. Commercial Mutual InsuranceThe Superior Court of New York City · 1885
- Hitchcock v. RolloU.S. Circuit Court for the Northern District of Illnois · 1872