Olyphant v. McNair
New York Supreme Court
APPEAL from a judgment ordered at the circuit, on the verdict of a jury, and from an order of the special term denying a motion for a new trial. The plaintiffs are assignees of John M. Mackay, who, at the defendant’s request, advanced $5500 in purchase of 100 shares Bockland Mining Company, for which this suit is brought. The defendant’s answer was a general denial.
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APPEAL from a judgment ordered at the circuit, on the verdict of a jury, and from an order of the special term denying a motion for a new trial. The plaintiffs are assignees of John M. Mackay, who, at the defendant’s request, advanced $5500 in purchase of 100 shares Bockland Mining Company, for which this suit is brought. The defendant’s answer was a general denial. Mackay testified that McNair authorized him, on July 3d, 1857, to engage a contract for 100 shares, deliverable in twelve months, at $75 per-share. He at once bought the shares, and informed McNair, who made no objection until…
1Opinion of the Court
By the Court, Clerke, J.
If the justice before whom this cause was tried at the circuit was correct in stating to the jury, “ If McNair had authorized Mackay to buy 500 shares of stock, and he had bought only 100 shares, McNair would not be liable, for Mackay would not have carried out his directions," the verdict must be sustained. If this ruling was correct, the case would have presented a conflict of evidence as to the authority to purchase 100 shares, which would be the only question for the jury, and this decision should not be disturbed.
An agent who is commissioned by his principal to…
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