267 Mass. 130 | Mass. | 1929
This is an action of contract to recover the amount due on coupons on bonds issued by the Court and Montague Street Realty Corporation, organized under the laws of New York, hereafter called the corporation. The defendant is a banking corporation having its place of business in New York, jurisdiction over it being obtained by trustee process served on its deposit in a Boston bank. There was
The question to be decided is whether the plaintiff can bring an action on the coupons in his own name against the defendant for refusal to pay the coupons. The defendant is not a party to the coupons or to the bonds. The maker and only person obligated to pay the coupons under the bonds is the corporation. The defendant is mentioned in the bonds as the trustee and as a person at whose office the coupons will be payable. In passing it may be observed that there is a paragraph in the copy of the bond set forth in the exceptions to the effect that “Neither this bond nor any of the coupons hereto attached shall be valid until this bond is authenticated by the signature of the said corporate trustee, the Anglo-South American Trust Company,” and that no such signature is on the bond. There is no promise in the bond or the coupon that the defendant will do anything. It is not a party thereto in any proper sense.
In Mellen v. Whipple, 1 Gray, 317, at page 321, one form
Exceptions overruled.