Court of Appeals 1880

Court of Appeals 1880

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880 edition. Excerpt: ... matter whether it was respected or not. We are not suing them because they bought at an improper price, but because they bought at all. If the purchase were a proper one under the circumstances, of course they would not be liable for a fall in value. But it is otherwise where they ought not to have bought at all. At fol. 848 an exception was made to the charge, which is not very clear. It seems to be based on the idea that if Trustees buy_-land unlawfully, they are not responsible for "damages that occur after that time," whatever that may mean. Whatever money the Trustees expended illegally they are responsible for until it is restored to the bank, and also for all expenditures legitimately caused by the original purchase. The sum of $2,000 paid by Messrs. Lauterbach & Hornthal, mentioned at folios 852 and 860, has been deducted from the verdict as required by the General Term (see stipulation at page 219 of Case), and the exceptions in that regard go for naught. The claim for the wrong was an asset of the bank, like any other (see Morse on Banking, 2d Ed., at p. 135), and it is unaffected by the fact that " subsequent "boards came in," or that depositors made deposits afterwards. And, moreover, there is no proof that a single deposit was made afterwards. Vlll. Divers exceptions were taken to the admission or rejection of evidence, but most of them do not deserve remark. The objections, at folios 204 and 205, to proving the sale of the premises under foreclosure, a11d what they brought, are untenable. These facts were a part of the history of this purchase, and material on the point of how much money was lost in the transaction. And even if improper, they did not do the least l4(.t-rm.-Vhat more

Product details

  • Paperback | 334 pages
  • 189 x 246 x 18mm | 599g
  • United States
  • English
  • black & white illustrations
  • 1236756010
  • 9781236756015