12 Wend. 156 | N.Y. Sup. Ct. | 1834
By the Court,
From an examination of the terms of the instrument in this case regarding the subject matter of it, and the various provisions contained in it, I am satisfied the intent of the parties to be gathered from the whole was, to have it operate as to the interest of Emery in the lease, and in the partnership funds as a release or assignment in prcesenti, and that such is its effect, The consideration is to be paid within a fixed time from the date, not from the date of any future release; and the defendant Hitchcock is expressly authorized to settle and collect the outstanding debts, for his own benefit, forthwith. Arbitrators are nomi
The award is sufficiently certain, and is conclusive upon the defendants. The arbitrators were to adjust the accounts of the parties according to the terms of the submission, and strike the balance. The balance they have struck, and unless we are at liberty to overhaul their judgment upon the matters submitted, we are bound to assume it has been correctly done. This is the doctrine of all the cases in this court. 10 Johns. R. 143. 2 id. 62. 9 id. 38. The principle is, that where there are no legal objections appearing on the face of the award, it is final, and nothing dehors can be pleaded or given in evidence against it, except misconduct or corruption in the arbitrators. The revised statutes, 2 R. S. 542, § 10, 11, have relaxed this rule in some respects, but not so as to affect this case. The cases cited from 7 East, 81, 8 id. 13, have no application to the question here. There, by the terms of the submission, the arbitrators were to determine and award upon several distinct matters, and it appeared upon the face of the award that they had omitted some of them. They were bound to adjudicate upon each, and this should ’appear by the award, otherwise the authority of the submission would be disregarded. Not so here. The ascertainment of the balance due to one or the other was all that the terms of the submission required. That has been distinctly passed upon.
The suit, I think, was properly brought in the names of both plaintiffs. The instrument was inter partes, and, besides, the parties were, by the terms of it, bound mutually, each to the other, for the faithful performance of all the covenants and agreements contained in it. There is no doubt that an action on a contract, whether by parol or under seal, must be brought in the name of the party in whom the legal interest in
Judgment for plaintiffs, with leave to defendants to amend on payment of costs.