Lester v. . Jewett
New York Court of Appeals
Assumpsit, commenced in 1846. The declaration contains five counts upon an instrument signed by the defendant in the following words: “ For value received, I agree at the expiration of one year from this date, to purchase thirty shares of the capital stock of the Southern Life Insurance and Trust Company, of Ralph Lester of the city of Rochester, for the sum of three thousand dollars. Dated September 6th, 1839. (Signed,) Simeon B. Jewett.”
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Assumpsit, commenced in 1846. The declaration contains five counts upon an instrument signed by the defendant in the following words: “ For value received, I agree at the expiration of one year from this date, to purchase thirty shares of the capital stock of the Southern Life Insurance and Trust Company, of Ralph Lester of the city of Rochester, for the sum of three thousand dollars. Dated September 6th, 1839. (Signed,) Simeon B. Jewett.” Heither the 1st, 2d, 4th or 5th count contained any averment of an offer or tender of the stock to the defendant. In each of these counts it is averred,…
1Opinion of the CourtEdwards, J.
If the instrument upon which this suit is brought be construed according to the plain rules of common sense,- without regard to legal subtleties and refinements, it seems to me,- that there can be but little difficulty in coming to a conclusion as to its true meaning and effect. The defendant agrees to purchase thirty shares of stock, on a particular day, at a fixed -price,* No credit whatever is. given. Now, what is he bound to do in order to make' such a purchase ? He certainly is not hound to pay the price agreed upon, without receiving any thing in return. A cash purchase can only be made…
2Cases cited3 opinions
- President of the Bank of Columbia v. HagnerSupreme Court of the United States · 1828
- Vail v. LewisNew York Supreme Court · 1809
- Payne v. LansingNew York Supreme Court · 1829
3Cited by31 opinions
- Sennett v. ShehanSupreme Court of Minnesota · 1880
- Kolsky v. EnslenSupreme Court of Alabama · 1893
- Delaware Trust Co. v. . CalmNew York Court of Appeals · 1909
- British Aluminium Co. v. TreftsAppellate Division of the Supreme Court of the State of New York · 1914
- Taylor v. BlairNew York Supreme Court · 1891
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