Stillwell v. Cutter

CHIPMAN, C.

This action was brought to recover money paid by plaintiff to defendants on an alleged contract for the sale of stocks on margin. Plaintiff had judgment, from which and from an order denying their motion for a new trial defendants appeal.

The action was authorized by section 26 of article IV of the state constitution, reading as follows: “All contracts for the sale of shares of the capital stock of any corporation or association, on margin, or to be delivered at a future day, shall be void, and any money paid on such contracts may be recovered by the party paying it by suit in any…