Brown v. . Leavitt

31 N.Y. 113

Opinion

Davis, J.

The note in suit was indorsed and delivered by Zebley & Co. to plaintiff’s testator, before it fell due, in payment, so far as it went, of a larger note than held by the testator. It was received with other notes, and a balance in cash, as such payment of the larger note, delivered up to Zebley & Co.

In this State it is settled by abundant authority that this transaction constituted the plaintiff’s testator a holder, for value, of the note in question. (Bank of Salina v. Babcock, 21 Wend., 499; Bank of St. Albans v. Gilleland, 23 id., 311; Bank of Sandusky v. Scoville, 24 id., 115; White v. Springfield Bank, 3 Sandf. S. C., 222; Young v. Lee, 18 Barb., 188; S. C. affirmed, 2 Kern., 534; Stetthein, v . Meyer, 33 Barb., 215; Mohawk Bank v. Corey, 1 Hill, 515; Meads v. Bank of Albany, 25 N. Y., 149; Stalker v. McDonald, 6 Hill, 93.)

A further discussion of the question might lead to a suspicion that the law was in doubt on the point,

The judgment should be affirmed.

AH the judges concurring, judgment affirmed.