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Hackett, New York Academy of Luling v. Stanton.
269 | McSpedon, Therasson v...
311 Mechanics and Traders' Fire Insu-
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184 Muldenor v. McDonogh... 46 Scanlan v. Cowley.
489 Myers, Leopold v... 580 Schenck v. Wilson...
92 Schmidt v. Kattenhorn .
157 Schwerin v. Mills...
394 Scott, Mechanics and Traders' Fire Ins. Co. v....
550 Neary v. Bostwick.... 514 Seely, Lambert v..
429 New Jersey RR. and T. Co., Har- Sexton v. Fleet
477 riott v.... 262 Sheridan, Martin v...
586 Nopes v. Homer. 116 Singer, Steelyards v.....
96 Nott, Koenig v.. 323 Smith v. Coe...
365 Snook, Petition of John..
566 Snow, Lambert v.......
501 Solomon v. Waas.
179 Stamler, Conklin v.
422 Oakley v. The Workingmen's U. B. Stanton, Luling v.
538 Society .. 487 Stark, Platt v....
399 Ocean Ins. Co., Struver v.
475 | Steelyards v. Singer. Onderdonk v. Emmons.. 504 Stilwell v. Otis..
148 Orser, Jackson v... 99 Strauss, Hellman v...
9 Otis, Stilwell v.
148 Strong, The Rippowam Co. v... 52
Struver v. The Ocean Ins. Co...... 475
Paine, Benson v...
552 Palmer v. Moeller..
421 Patterson, Drucker v.
135 The Commercial Mut. Ins. Co., WoodPaywa v. Wight..
122, 130 Pearson v. Fiske..
146 The Commissioners of Excise v. Hol. Pearson, Mills v.... 16 lister ...
588 Peck, Renaud v..
137 | The Eighth Av. RR. Co., WinterPetry, The People of State of N. Y. v. 523
389 Pettigrew v. Chave..
546 The Fire Department of N. Y. v. Phelps, Morris v..
455 Pignolet v. Daveau...
584 The Mayor, &c., of N. Y. v. Brett.. 560 Place v. Union Express Co.... 19 The Mayor, &c., of N. Y., Green v.. 203 Platt v. Stark....
399 The Mayor, &c., of N. Y. v. Husson. 7
The Mayor, &c., of N. Y., Lockwood v. 66
The Mechanics and Traders' Fire Quinn v. Case......
Ins. Co. v. Scott...
550 The New Jersey RR. and T. Co., Harriott v...
262 The New York Academy of Music v. Hackett..
217 Radway, Gottsberger v
342 The N. Y. and Harlem Railroad Co., Raymond, Babcock v...
496 Reed v. Butler.....
589 The Ocean Ins. Co., Struver v..... 475 Reed v. Warth..
281 The People of State of New York Reinor, Underhill v.. 319 v. Petry..
523 Renaud v. Peck..
137 The Rippowam Co. v. Strong. 52 Richardson, Lees v...
164 The Union Express Co., Place v... 19 Rippowam Co. v. Strong...
52 The Workingmen's U. B. Society, Roberts, Leavy v... 285 Oakley v...
487 Romaine v. Kinshimer... 519 | Telfer v. Kiersted.
577 Rowland v. Miln...... 150 ! Therasson v. McSpedon..
Tooker v. Gormer..
536 Townsend, Holley v.. 34 Warburg v. Wilcox..
118 Towusend v. Keenan.. 544 Warth, Reed v.
.. 281 Truett, Moloney v.. 247 Watts v. Willett.
212 Tucker v. Williams. 562 Weeks, Bidwell v...
106 Whitehead, Vulte v....
596 Wight, Payton v......
77 Wilcox, Warburg v...
118 Willett, Moore v......
522 Underhill v. Reinor... 319) Willett, Watts v...,
212 Union Express Co., Place v.......
19 | Williams v. Carroll..
84 Wilson, Schenck v..
Winterson v. The Eighth Avenue
344 Wood, Brown v.
59 Wade, Hoag v... 114 Woodward v. Genet..
526 Waggoner, Greene v..
297 Workingmen's U. B. Society, OakWallace v. The Mayor, &c., of N. Y. 440 ley v..
ARGUED AND DETERMINED
COURT OF COMMON PLEAS
CITY AND COUNTY OF NEW YORK.
LOUIS F. THERASSON v. THOMAS MOSPEDON.
A denial in an answer, "upon information and belief,” is no traverse. The effect of
such a form of denial is to admit the fact in the complaint to which it rolates. The defendant, as a condition of the purchase by him of all the property of a mining
company, of which he was treasurer, agreed to pay its liabilities, and to pay the shareholders a specified amount for each share. Held, in an action brought by the plaintiff, claiming under an assignment of the interest of one of the share
holders, I. That the promise of the defendant enured to the benefit of every shareholder and
creditor of the association, and entitled any one of them to maintain an action
II. That the promise was not to pay the debt of another, but a promise to pay his
own debt incurred by the purchase of the property.
APPEAL from a judgment entered on the report of a referee. The plaintiff sued as assignee of certificates of stock in the "Green: wich and California Mining and Trading Company," an unincorporated association. His complaint averred that the assets of the company had been sold, and the proceeds delivered to defendant, as treasurer of the company, and that defendant had promised to pay over the fund to the shareholders at the rate of $189.96 per sbare. It also averred the transfer of certain shares to the. plaintiff. VOL. II.
Therasson v. McSpedon.
The defendant's answer, among other things, denied, on infor. mation and belief, that the shares mentioned in the complaint had been assigned to the plaintiff.
On the trial before the referee, the defendant moved to dismiss the complaint, on the ground that the consent of the company to the transfer was not shown. The referee denied the motion, and the defendant excepted.
The promise of defendant to pay the fund in the treasury to the shareholders, in the proportion of their shares, appeared nct to have been in writing.
The referee having reported in favor of the plaintiff, the defendant appealed.
Daniel B. Taylor and John W. Edmonds, for the appellant.
The undertaking of defendant was to pay the debt of a third person, and, not being in writing, is void.
John Graham, for the respondent.
I. The Code does not authorize a denial on information and belief. Code, $ 149; DALY, J., Hacket v. Richards, 11 Leg. Obs., 315; Truscott v. Dole, 7 Pr. R. 221; Voorhies' Code, ed. of 1855.
II. When stock is actually assigned, it transfers all the right of the assignor, although not entered on the books, nor any notice given of it. The purchaser has all the right to the stock, but may or may not be entitled to vote; and the sale of the stock may be subject to the debts of the corporation. Gilbert v. Man chester Iron Co., 11 Wend. 627; Bank of Utica v. Smalley, 2 Cow. 770. And in Stall v. Catskill Bank (18 Wend. 475), it was held that all the right of the assignor is divested by the assignment, although it is informal, and not consistent with the by-laws. Mechanics' Banke v. New Haven Railroad, 3 Kernan, 599.
These decisions are in the cases of strict corporations, which are controlled by the legislature. The rule is less rigid in the case