Peoples' Bank of City of New York v. . Bogart
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, affirming a judgment in favor of defendants entered upon an order dismissing the complaint on trial. (Reported below, 16 Hun, 270.) The nature of the action and the facts are set forth sufficiently in the opinion. A holder of commercial paper, offering it for sale, is bound to disclose any knowledge he may have of any facts materially affecting and depreciating its value.
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Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, affirming a judgment in favor of defendants entered upon an order dismissing the complaint on trial. (Reported below, 16 Hun, 270.) The nature of the action and the facts are set forth sufficiently in the opinion. A holder of commercial paper, offering it for sale, is bound to disclose any knowledge he may have of any facts materially affecting and depreciating its value. (Brown v. Montgomery, 20 N. Y. 287, 292; Lancy v. Clarke, 64 id. 212; Kerr on Fraud, 94, 95; Addison on Torts, 399; Clarke v.…
1Opinion of the CourtAndrews, J.
The plaintiff is a banking corporation, organized under the banking laws of this State, carrying on business in the city of New York. The defendants compose the firm of Orlando M. Bogart & Co., note-brokers, and dealers in commercial paper, also carrying on business in that city. The action is brought to recover of the defendants $34,453.83, the sum paid by the plaintiff on the purchase from the defendants on the 20tli, 21st and 22d days of July, 1875, of certain acceptances of Duncan, Sherman & Co., a banking and commission firm in the city of New York, of drafts drawn upon them by one…
2Cases cited6 opinions
- Nichols v. . PinnerNew York Court of Appeals · 1858
- Dambmann v. . SchultingNew York Court of Appeals · 1878
- Raborg v. PeytonSupreme Court of the United States · 1817
- Sinking Fund Com'rs v. Northern Bank Ky.Court of Appeals of Kentucky · 1858
- Brown v. . MontgomeryNew York Court of Appeals · 1859
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3Cited by29 opinions
- Amend v. HurleyNew York Court of Appeals · 1944
- Abbate v. AbbateAppellate Division of the Supreme Court of the State of New York · 1981
- McClure v. . Central Trust Co.New York Court of Appeals · 1900
- Moser v. SpizzirroAppellate Division of the Supreme Court of the State of New York · 1968
- In re B. & R. Glove Corp.Court of Appeals for the Second Circuit · 1922
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