Leo v. . McCormack
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme*Court in the first judicial department, entered June 16, 1905, affirming a judgment in favor of plaintiffs entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion. In the execution of his client’s order for the purchase or sale of stock a broker is an agent. (26 Am. & Eng.
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Appeal from a judgment of the Appellate Division of the Supreme*Court in the first judicial department, entered June 16, 1905, affirming a judgment in favor of plaintiffs entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion. In the execution of his client’s order for the purchase or sale of stock a broker is an agent. (26 Am. & Eng. Ency. of Law [2d ed.], 1055; 1 Dos Passos on Stockbrokers [2d ed.], 219, 227, 228, 297; Helliwell on Stock & Stockh. 360, § 196; 2 Cook on Corp. [5th ed.] 777, 903, 909, 916, 928;…
1Opinion of the CourtHiscock, J.
The plaintiffs and defendant are brokers, the latter dealing on the curb. The former, acting for certain customers, sold to the latter, acting for an undisclosed customer, 150 shares of stock at $40.00 per share, and this action .is brought to recover said purchase price. The defendant has refused to pay the same upon the ground that the persons owning said stock were guilty of fraud in effecting its sale to him, and that such fraud constitutes a defense against plaintiffs, who were their agents. The learned courts below have respectively directed and affirmed the direction- of a verdict for…
2Cited by9 opinions
- Union Bank of Switzerland v. HS Equities, Inc.District Court, S.D. New York · 1978
- Kent v. De CoppetAppellate Division of the Supreme Court of the State of New York · 1912
- In re the Estate of KadarNew York Surrogate's Court · 1956
- Passman v. OliphantNew York Supreme Court · 1974
- Shaw v. McQueeneyAppellate Terms of the Supreme Court of New York · 1914
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