Pittsburgh-Westmoreland Coal Company, Respondent v. John K. Kerr, as Administrators With the Will Annexed of…

Summary

The New York Court of Appeals affirmed the judgment allowing Pittsburgh‑Westmoreland Coal Company to be subrogated to the Third National Bank’s rights in a $2,500 promissory note, holding that the note remains alive in equity despite its payment with the plaintiff’s money because the maker’s fraudulent conversion gives the plaintiff a right of subrogation. Justice Crane’s dissent argued that the indorser’s liability was discharged and subrogation should not apply.