Manufacturers Trust Co. v. Schwartz

Appellate Terms of the Supreme Court of New York

Manufacturers Trust Co. v. Schwartz

176 Misc. 814, 29 N.Y.S.2d 279, 1941 N.Y. Misc. LEXIS 2046

CourtAppellate Terms of the Supreme Court of New York

DecidedJune 27, 1941

StatusPublished

This text of 176 Misc. 814 (Manufacturers Trust Co. v. Schwartz) is published on Counsel Stack Legal Research, covering Appellate Terms of the Supreme Court of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Manufacturers Trust Co. v. Schwartz, 176 Misc. 814, 29 N.Y.S.2d 279, 1941 N.Y. Misc. LEXIS 2046 (N.Y. Ct. App. 1941).

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Opinion

Per Curiam.

The bank was authorized to make payment on behalf of the maker of the note, one of its depositors, even though there was an insufficient credit to the account of the depositor. The overdraft thus paid by the bank may be recovered. (Payne v. Freer, 91 N. Y. 43; Prowinsky v. Second Nat. Bank, 265 Fed. 1003.) The discharge in bankruptcy of the depositor did not affect the bank’s claim as it arose after the filing of the involuntary petition in bankruptcy against the depositor. (Everett v. Judson, 228 U. S. 474; Matter of Paley [Ritholtz], 260 App. Div. 632.)

Judgment and orders reversed, with ten dollars costs, and defendant’s motion denied and plaintiff’s motion granted.

All concur. Present — Hammer, Shientag and Miller, JJ.

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Per Curiam.

The bank was authorized to make payment on behalf of the maker of the note, one of its depositors, even though there was an insufficient credit to the account of the depositor. The overdraft thus paid by the bank may be recovered. (Payne v. Freer, 91 N. Y. 43; Prowinsky v. Second Nat. Bank, 265 Fed. 1003.) The discharge in bankruptcy of the depositor did not affect the bank’s claim as it arose after the filing of the involuntary petition in bankruptcy against the depositor. (Everett v. Judson, 228 U. S. 474; Matter of Paley [Ritholtz], 260 App. Div. 632.)

Judgment and orders reversed, with ten dollars costs, and defendant’s motion denied and plaintiff’s motion granted.

All concur. Present — Hammer, Shientag and Miller, JJ.

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Bluebook (online)

176 Misc. 814, 29 N.Y.S.2d 279, 1941 N.Y. Misc. LEXIS 2046, Counsel Stack Legal Research, https://law.counselstack.com/opinion/manufacturers-trust-co-v-schwartz-nyappterm-1941.

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