Music Trade Review

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THE MUSIC TRADE REVIEW.
of 1870 in the same way as the courts of New
York, from the legislation of which state it was
adopted. The court said that the intent of the
law was to prevent the use of the name of a
person not interested in a firm, and thus induc-
ing a false credit to which it was not entitled,
FRAUD—NOTE—TRANSFER.
and
this on the strength of a name which had
In the recent case of Sebastian May Company
been
withdrawn, or which there was no author-
vs. Codd, the Maryland Court of Appeals held
ity
to
use. The object of the law, the court
that where the note of a third person was taken
as conditional payment, and the transferror had said, was to prevent the obtaining of a credit
actual knowledge of the insolvency of the maker secured by fraudulent representations, and not
of the note at the time of the transfer to the to prevent the giving of credit, and after it was
plaintiff, and concealed that fact from the given and the day of settlement had arrived,
plaintiff, his conduct constituted a fraud on the prevent the party infringing the statute from
plaintiff, and was admissible to rebut the de- demanding payment of his debtor.
fendant's defense, even though he made no
FIRE INSURANCE—LOSS—MORTGAGE.
false representations as to the solvency of the
In the recent case of Maxey vs. New Hamp-
maker.
shire Fire Insurance Company the Supreme
SALE —ATTACHMENT—COUNTERCLAIM.
Court of Minnesota held that a fire insurunce
The Supreme Court of Minnesota held, in the
policy by the terms of which the loss, if any,
recent case of Jones et al. vs. Swank, that in an
was made payable to a mortgagee as his interest
action for the value of goods, wares and mer-
might appear, was a contract for the benefit of
chandise sold and delivered, and for services such mortgagee, and that he, or a person to
rendered and labor performed, a cause of action whom he had assigned the claim after a cause
independent of and against plaintiff, for will- of action had accrued, was entitled to recovei
fully, maliciously and with injurious intent in his own name the full amount of the insur-
causing the property of the former to be seized ance, if the same did not exceed the amount
and attached in value greatly in excess of the due upon the mortgage, and that when in such
amount claimed to be due, in attachment pro- an action it was alleged in the complaint that
ceedings instituted upon the claims and causes the mortgagee had sustained loss and damage in
of action set forth in the complaint in the a certain amount it was as against a general
action, and also for neglect and misuse of the demurrer sufficiently alleged that the insured
attached property with such intent, was not a owner had sustained loss and damage, and that
defense by way of counter-claim.
under such an allegation the value of the prop-
erty destroyed might be shown upon the trial.
PARTNERSHIP—FALSE REPRESENTATIONS.
In the recent case of Wolfe vs Joubert et al.
NOTE—INDORSEMENT—DELIVERY.
the Supreme Court of Louisiana interpreted
section 2,668 of the Louisiana Revised Statutes
The Supreme Court of Georgia held, in the
RECENT LEGAU
JJECISIONS,
case of the National Bank of Columbus vs.
Leonard et al., that under sections 2,775 and
2,776 of the Georgia code, a promissory note
not containing any words of negotiability is so
far negotiable by indorsement of the payee in
blank as to pass the title to a bona fide holder
and enable him to sue the maker in his own
name; that the payee of a promissory note
not negotiable, who indorses the same in blank
and delivers it to another for value, is by virtue
of the above sections of the code liable on his
indorsement,and that where at the time a prom-
issory note was indorsed in blank, another be-
tween the same parties was folded in it, the in-
dorsement of the former did not operate as an
indorsement or to more than an equitable assign-
ment of the latter, although such may have
been the intention of the parties, and that con-
sequently a holder could not maintain a suit
upon the latter in his own name without equi-
table pleadings setting up the requisite facts.
—Bradstreet's.
W. A. TERRY, of Bristol, Conn., has sold out
his music business to W. A. Terry and B. A.
Peck. The new firm's name is Terry & Peck.
The members are very popular business men.
MR. ALBERT SMITH, oldest music dealer of
Rockland, Me., died on August 8th, after a
brief illness. He was 66 years old.
NELSON J. LAUGHTON, piano dealer of Lewis-
ton, Me., has gone into insolvency.
THE piano case factory of J. M. Lockey Co.,
at Leominster, Mass., is again running as
usual. They report business good.
SCHU
A NAME NOTED IN MUSICAL HISTORY.
A Name Noted in Modern Fiano Making.
In the Schubert Piano of to-day are incorporated inventions
which give it a distinct individuality.
The "Triple Bearing Bridge"
is an advance in piano construction.
The Schubert Piano alone
contains it.
SCHUBERT PIANO COMPANY, MANUFACTURERS,
(PETER DUFFY, President.)
535, 537, 539 AND 541 EAST 134th STREET
1TOEK CITT.