William Birdsall, Jr., and Others v. . Salem T. Russell.

Summary

The New York Court of Appeals reversed the general term's order for a new trial and affirmed the special term's dismissal of the plaintiffs' complaint, holding that the plaintiffs failed to prove ownership of the bonds and that any alleged alterations did not constitute constructive notice to defeat the defendant's status as a bona fide purchaser. The court found the evidence of alteration insufficient and the numbering not integral to the bonds, thus no bad‑faith liability. Justice Kagan, in a concurring opinion, reiterated that the evidence was wholly defective and that no jury issue existed.