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RUEGG v. FAIRFIELD SEC. CORP.

284 A.D. 703 (1954)

Lisette V. Ruegg, as Administratrix of The Estate of Erhart Ruegg, Deceased, Appellant, v. Fairfield Securities Corporation, Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

October 26, 1954.

Attorney(s) appearing for the Case

Harold H. Corbin, Marvin S. Machson and Samuel Statler of counsel (Charles Korn, attorney), for appellant.

Henry J. Bogatko of counsel (William M. Keegan with him on the brief, John I. O'Neill, of the New Jersey Bar, by permission of the court; Bigham, Englar, Jones & Houston, attorneys), for respondent.

PECK, P. J., DORE, COHN and BASTOW, JJ., concur.

CALLAHAN, J.

Prior to March 4, 1949, one William S. Arnold was indebted to plaintiff's intestate, Erhart Ruegg, in the sum of $25,000. He had executed a confession of judgment, and was being threatened with entry of judgment, unless he secured payment of the debt. He transferred to Ruegg certain rights to the proceeds of a boat then being sold, and on the date above mentioned offered to Ruegg's attorney a letter...

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