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53 How. Pr. 368

Potts v. Mayer

The Superior Court of New York City · decided 1877-05-15

This is an action brought against Elkin Hyman and Isaac Mayer, as members of the firm of Hyman & Mayer, upon a promissory note for $1,571.39, made by them to their own order, and indorsed to the defendant Sigmund Kohn, who, before its maturity, indorsed and delivered it to plaintiff for its value. The court directed a verdict for the plaintiff.

Decided 1877-05-15

Speir, J.

¶1The defendant Mayer received value for the note, as shown by his own witness and co-defendant Hyman, who proved that it was given in the firm’s name to Hyman for money which the defendant Mayer owed to him. Hyman transferred the note to Kohn in consideration of $1,200 paid by Kohn for Hyman’s account in Detroit.

¶2Prior to this transfer Kohn had deposited in Detroit, on Hyman’s account, $10,000 upon account, of which at that time there was a balance due to Kohn of $1,200. Under these facts it is clear enough that had Kohn been the plaintiff, holding this note as prosecutor, the court must have made the same disposition of the case as on this trial.

¶3The plaintiff’s title differs in no material respect from that 'mf Kohn. He received the note from him and gave him credit, so much cash, and at the maturity of the note it was protested for non-payment, and the plaintiff charged the amount back to Kohn, who was liable as indorser, and took it up with his own check. Kohn has paid nothing to the plaintiff on account of the note.

¶4The judgment must be affirmed with costs.

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