A Treatise On the Law of Negotiable Instruments Including Bills of Exchange Pr
A Treatise On the Law of Negotiable Instruments Including Bills of Exchange Pr
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654. Field, J. (with whom concurred Chase, 0. J. , and Miller and Grier, JJ. ), dissented, in an opinion of rare ability. " Here, " he said, " the authority is to borrow money, yet no money was bor- rowed, but the bonds of the city were lent. Borrowing money and lending credit are not convertible terms. " ' Starin v. Town of Genoa, 23 N. Y. 454, Lott, J. , saying: "It was evidently the intention of the act that money should be raised and paid over to aid in the construction of a railroad, and n...o color is given to the idea or the position that the credit merely of any town should be given, through and by which money might be raised. A town might be willing to incur a debt to a limited sum, with the knowledge that the whole amount for which it was incurred was actu- ally to be appropriated to the construction of a railroad that might be deemed conducive to its interests, but would absolutely refuse to issue their bonds, for the purpose of sale, from which much less than the amount for which they were given might be realized.
What to read after A Treatise On the Law of Negotiable Instruments Including Bills of Exchange Pr?
You can find similar books in the "Read Also" column, or choose other free books by John W John Warwick Daniel to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
654. Field, J. (with whom concurred Chase, 0. J. , and Miller and Grier, JJ. ), dissented, in an opinion of rare ability. " Here, " he said, " the authority is to borrow money, yet no money was bor- rowed, but the bonds of the city were lent. Borrowing money and lending credit are not convertible terms. " ' Starin v. Town of Genoa, 23 N. Y. 454, Lott, J. , saying: "It was evidently the intention of the act that money should be raised and paid over to aid in the construction of a railroad, and n...o color is given to the idea or the position that the credit merely of any town should be given, through and by which money might be raised. A town might be willing to incur a debt to a limited sum, with the knowledge that the whole amount for which it was incurred was actu- ally to be appropriated to the construction of a railroad that might be deemed conducive to its interests, but would absolutely refuse to issue their bonds, for the purpose of sale, from which much less than the amount for which they were given might be realized.
What to read after A Treatise On the Law of Negotiable Instruments Including Bills of Exchange Pr?
You can find similar books in the "Read Also" column, or choose other free books by John W John Warwick Daniel to read onlineMoreLess
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