Lowe v. Jones
Massachusetts Supreme Judicial Court
Bill in equity, filed as amended on November 28,1905, by Stephen C. Lowe of Boston against the administrator of the estate of Clarence M. Merriam, late of Newton, and the Neponset National Bank of Canton, alleging: First.
Read the full summary
Bill in equity, filed as amended on November 28,1905, by Stephen C. Lowe of Boston against the administrator of the estate of Clarence M. Merriam, late of Newton, and the Neponset National Bank of Canton, alleging: First. That on or about May 8, 1903, the plaintiff authorized Clarence M. Merriam to buy for him fifty shares of the preferred stock of the Boston and Suburban Electric Companies at $87.50 per share on the understanding and arrangement with Merriam that the stock should be held on account of the plaintiff until paid for or ordered to be sold by the plaintiff, and that the plaintiff…
1Opinion of the CourtKnowlton, C. J.
The defendant’s intestate, one Merriam, held stock of the plaintiff under an arrangement which established a relation of trust between the parties, and made it his duty to continue to hold it until the conditions should change. It is averred in the bill that he sold a part of it and received the proceeds as his own, and pledged the remainder of it to the defendant bank as security for a loan made to him personally. On the facts averred there is nothing to show that the bank did not take the pledged property in good faith, under such circumstances as would enable it to hold' it as security for…
2Cases cited21 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Peters v. BainSupreme Court of the United States · 1890
- Holmes v. . GilmanNew York Court of Appeals · 1893
- McLeod v. EvansWisconsin Supreme Court · 1886
- Nonotuck Silk Co. v. FlandersWisconsin Supreme Court · 1894
16 more not listed; retrieve them via the Exa API.
3Cited by50 opinions
- Empire State Surety Co. v. Carroll CountyCourt of Appeals for the Eighth Circuit · 1912
- Glover v. Waltham Laundry Co.Massachusetts Supreme Judicial Court · 1920
- Hewitt v. HayesMassachusetts Supreme Judicial Court · 1910
- McDonald v. Hartford Trust Co.Supreme Court of Connecticut · 1926
- Furber v. DaneMassachusetts Supreme Judicial Court · 1909
45 more not listed; retrieve them via the Exa API.