[DOWNLOAD] "Downey v. Palmer." by United States Court of Appeals for the Second Circuit # eBook PDF Kindle ePub Free

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eBook details

• Title: Downey v. Palmer.
• Author : United States Court of Appeals for the Second Circuit
• Release Date : January 12, 1940
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 51 KB

Description

The plaintiff is the receiver of an insolvent national bank upon whose stock the comptroller of the currency levied an assessment of 100 per cent. payable June 18, 1934. On September 22, 1938, the receiver commenced the present action. The complaint alleges that the assessment upon stock owned by the defendant amounted to $62,000, and payment thereof was duly demanded; that on September 26, 1935, the defendant acknowledged in writing the indebtedness, and on October 22, 1935, she paid $35,000 upon account, leaving a balance due and owing of $27,000. For such balance, with interest, judgment was demanded. The defendants amended answer set up, as a first defense, that her payment of $35,000 was accepted by the banks receiver, predecessor of the plaintiff, in full satisfaction and discharge of her indebtedness upon the stock assessment; and, as a second defense, that the cause of action stated in the complaint was barred by the statute of limitations. To the first defense the plaintiff filed a reply, alleging that the release obtained by the defendant upon payment of $35,000 to the plaintiffs predecessor was obtained by false and fraudulent representations as to the amount of her assets and that upon discovery of such fraud in September, 1938, the plaintiff elected to rescind the said agreement of settlement and release; wherefore he demands judgment that such release be declared void and rescinded and that he have judgment as prayed in his complaint.

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