Commercial Bank v. Pfeiffer

29 N.Y. Sup. Ct. 327
CourtNew York Supreme Court
DecidedOctober 15, 1880
StatusPublished

This text of 29 N.Y. Sup. Ct. 327 (Commercial Bank v. Pfeiffer) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Commercial Bank v. Pfeiffer, 29 N.Y. Sup. Ct. 327 (N.Y. Super. Ct. 1880).

Opinion

Talcott, P. J.:

The complaint in this case alleges that prior to January 11, 1877, the defendants, under the copartnership name of “ Pfeiffer & Windsor Brothers,” agreed with the plaintiff, that if one 0. Quick should draw on them at sight for the cost of cattle and. hogs, to be purchased by him, less the sum of $50 to each car load of such cattle and hogs, and should attach to each draft a bill of lading, showing that said cattle and hogs were shipped to them, the defendants,, the said defendants, on being notified of the shipment and the amount of such draft, would pay the same at sight. That on the said 11th day of January, 1877, the said 0. Quick drew and delivered to the plaintiff a sight draft on the defendants, requiring them to pay to the order of the plaintiff’s cashier, the sum of $5,778, and charge the same to the account of eighty-six cattle and one hundred and thirty-five hogs, and that at the time said draft was drawn the said cattle and hogs were. duly shipped, to be forwarded to the defendants, and a bill of lading showing such shipment was attached to the draft, and the defendants were duly notified of such shipment and the amount thereof. That the plaintiff advanced the money to said Quick for the purchase of eighty-six cattle and one hundred and thirty-five hogs, and that; as the plaintiffs believe the amount of the draft was less' than the-cost of such cattle and hogs by the amount of $50 or more to each, car load thereof.

[330]*330That at the time of such advance to Quick he sold and delivered the said cattle and hogs to the plaintiff, and agreed that the said plaintiff should be and continue the owner thereof, and that the same should continue the property of the plaintiff until the payment to it of the money so advanced by it; and that the said ■draft was afterwards duly presented to the defendants for acceptance and payment, but they refused to pay the same, except that on January 20, 1877, they paid from the proceeds of the said shipment the sum of $5,249.47, and converted the balance of such jiroceeds to their own use; and that by reason of the premises the plaintiff has been damaged in the sum of $1,000, and prays judgment for the damage sustained, with costs.

The defendants answer, denying all the allegations of the complaint, except as therein admitted, and then they admit the partnership of the defendants.

They then allege in substance as a second answer, defense <md •coimter-claim,” the agreement by which defendants agreed to pay Quick’s sight drafts, and that under said agreement, certain cattle and hogs were shipped to the defendants for sale from time to time, and drafts drawn upon the same which were paid by the defendants, and as the defendants believe such drafts were, at least, for the whole cost of such cattle and hogs without any deduction •of $50 per ear load, and that the defendants relied upon the honesty, good faith and care of the plaintiff, to see that the drafts •should be and were drawn only for the actual cost of the said cattle to Quick, less the sum of $50 per car load, and “ on the 11th •day of December, 1876, the defendants were notified that the said ■Quick had drawn a draft upon said defendants for $5,025, which the plaintiff had discounted, and that the same was accompanied by a bill of lading of three hundred and thirty-four hogs and sixty-seven sheep, consigned to the defendants under said arrangement, by which said draft was to be drawn at the actual cost price of said hogs and sheep less $50 per car load. That relying on the good ..faith and honesty of the plaintiffs in seeing that said draft was drawn only for the actual cost of said hogs and sheep less $50 per car load, and believing the same to have been so drawn under [331]*331said arrangement or agreement aforesaid, the said defendants paid the same, the said hogs and sheep realizing only the sum of $4,644.65, by which these defendants were out the sum of $141.18 on said transaction.”

They then allege the making and delivery to the plaintiff of the said draft for $5,ll8 on January 11, 1811, that the same was accompanied by a bill of lading of eighty-six cattle and one hundred and thirty-five hogs; that the said plaintiff claimed and pretended that the same was drawn under the said agreement for the purchase price of said cattle and hogs, less $50 per car load; and, relying on the good faith of the plaintiff in drawing and discounting said draft under the agreement, the defendants received said cattle and hogs and sold the same, realizing therefor the sum of $5,631.82, but that both the said drafts were not drawn under the said agreement, but were in fact, drawn for the full price of said hogs, sheep and cattle, and that defendants have paid to the plaintiff the sum of $5,249.41, being the proceeds of said cattle [and hogs] less the sum of $380.35, the loss on the December shipment aforesaid.

The action was tried before the Hon. Albert Haight, one of the justices of this court, at the Erie Circuit, without a jury. The plaintiff gave in evidence a letter from the defendants, as follows, viz.:

“ East Buffalo, N. Y., April 25, 1816
“ Edmund Jaeger,
“ Ca. Commercial Bank, Keokuk, la.
u Dear Sir: We will pay 0. Quick’s drafts at sight with bill of lading attached, and $100 deducted from the cost as margin, cattle consigned to our care here, and we to be notified of shipment and amount of draft by telegraph. The above will insure your drafts prompt payment to the amount of cost of ten cars a week.
“Your truly,
“ PFEÍEEER & WINDSOR BROS.”

Also another letter from the defendants to the plaintiff as follows:

[332]*332“East Buffalo, N.T., November 8, 1876.
“ Commercial Bank, Keokuk, Iowa.
“ Please suggest a $50 margin a car to Mr. O. Quick. Our letter of credit calls for more, but we will be content with above.
“Yours truly,
“PEEIFFER & WINDSOR BROS.”

Also the draft ’described in the complaint, on which was indorsed, a payment under date January 28, 1877, for $5,249.47.

The plaintiff then read in evidence portions of the answers of the defendants, to wit, that portion setting up the said arrangement to-pay 0.

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Cite This Page — Counsel Stack

Bluebook (online)
29 N.Y. Sup. Ct. 327, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commercial-bank-v-pfeiffer-nysupct-1880.