Madison Square Bank v. Pierce
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in’ the first judicial department, entered upon an order made December 31,1891, which affirmed a judgment in favor of plaintiff entered upon a decision of the court on trial at Circuit. This was an action upon a promissory note. The facts, so far as material, are stated in the opinion.
Read the full summary
Appeal from judgment of the General Term of the Supreme Court in’ the first judicial department, entered upon an order made December 31,1891, which affirmed a judgment in favor of plaintiff entered upon a decision of the court on trial at Circuit. This was an action upon a promissory note. The facts, so far as material, are stated in the opinion. The only question presented is one of law, whethei the holder can recover more than the balance of the note from the maker after he has already been paid the greater part of the note by an indorser, upon whom a claim was made by him for payment.…
1Opinion of the CourtFinch, J.
We have a novel and interesting question before us on this appeal, although its apparent importance will lessen as we pass from first impressions to some slower reflection. It arises upon facts which are very brief and simple and may at once be stated. The defendant, Pierce, made his promissory note payable to his own order and indorsed it to the Bates Co., Limited, which indorsed it to the plaintiff bank; the latter discounting it and paying the proceeds over to the immediate indorser. Thereafter the Bates Co. became insolvent and passed into the hands of a receiver, who paid to the bank…
2Cases cited1 opinion
- President of the Mechanics' Bank v. HazardNew York Supreme Court · 1816
3Cited by35 opinions
- Swarts v. Fourth National BankCourt of Appeals for the Eighth Circuit · 1902
- Lennon v. CohenMassachusetts Supreme Judicial Court · 1928
- General Investment Co. v. Interborough Rapid Transit Co.Appellate Division of the Supreme Court of the State of New York · 1922
- McGrath v. . Carnegie Trust Co.New York Court of Appeals · 1917
- Rogers v. . Atlantic, Gulf Pacific Co.New York Court of Appeals · 1915
30 more not listed; retrieve them via the Exa API.