Reports of Cases Heard and Determined in the Supreme Court of the State of New York Volume 27

Reports of Cases Heard and Determined in the Supreme Court of the State of New York Volume 27

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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: ...draft, in the belief that the proceeds arising upon its discount had been used'in taking up the old draft, subsequently brought this action against the defendant to recover the amount thereof, on the ground that the money was paid under a mistake of fact. Held, that the action could be maintained. MOTION for a new trial on exceptions ordered to be heard, in the first instance, at the General Term, after a verdict directed in favor of the plaintiff at the circuit. In 1873, J. N. Merriam & Son were a firm doing business in Boston, and Francis P. Merriam resided in that city. On March 13, 1873, George H. Thayer, a member of the firm of Southworth, Thayer & Co., a firm doing business in Memphis, Tenn., drew on said firm, in Memphis, a r.lra.ft for $2,500, payable in forty days after date, to the order of J. N. Merriam & Son. It was accepted by the drawees (Southworth, Thayer & Co.), and passed by the payecs, J. N. Merriam & Sou to Francis P. Mer riam, who held it at maturity and sent it to Memphis for collection, where it was, at the time of the events out of which this action arose, held for collection by the Merchants' Bank of Memphis. Southworth, Thayer & Co. being unable to pay this draft so notified J. N. Merriam & Son, and on May 5, 1873, the latter firm telegraphed Southworth, Thayer & Co., at Memphis, as follows: "Bosron, May 5, 1873. "Yon may draw upon us at sight for $2,500 to pay idraft in our favor. Can you not make it at thirty or sixty days '? "J. N. MERRIAM & SON." The " draft in our favor" meant the above mentioned draft of March 13, 1873, then held in Memphis for collection. Thereupon, Southworth, Thayer & Co., d1'ew the draft involved more

Product details

  • Paperback | 262 pages
  • 189 x 246 x 14mm | 472g
  • United States
  • English
  • black & white illustrations
  • 1236795865
  • 9781236795861