McNeil v. . the Tenth National Bank
New York Court of Appeals
Appeal from a judgment of the General Term in the fourth district, affirming a judgment entered in Montgomery county, in favor of the plaintiff on the report of a referee.
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Appeal from a judgment of the General Term in the fourth district, affirming a judgment entered in Montgomery county, in favor of the plaintiff on the report of a referee. The action was brought, to compel the surrender to the plaintiff of 134 shares of the capital stock of the First National Bank of St. Johnsville, which had been acquired by the appellant in the following manner: In November, 1866, the plaintiff then being the owner of the shares in question, had an account with Goodyear Brothers & Durant, of the city of New York, stock brokers, relating to other stocks, which they had…
1Opinion of the CourtSapallo, J.
The pledge of the plaintiff’s shares by his brokers, for a larger sum than the amount of their lien thereon, was a clear violation of their duty, and excess of their actual power. And if the effect of the transaction was merely to transfer to the appellant, through Fred. Butterfield, Jacobs & Go., the title or interest of Goodyear Brother and Durant in the shares, the judgment appealed from was right.
Lit must be conceded, that as a general rule, applicable to property other than negotiable securities, the vendor or pledgor can convey no greater right or title than he has. But this is a…
2Cases cited14 opinions
- Commercial Bank v. KortrightCourt for the Trial of Impeachments and Correction of Errors · 1839
- Bush v. . LathropNew York Court of Appeals · 1860
- Root v. FrenchNew York Supreme Court · 1835
- New York & New Haven Railroad v. SchuylerNew York Court of Appeals · 1865
- Murray v. LylburnNew York Court of Chancery · 1817
9 more not listed; retrieve them via the Exa API.
3Cited by282 opinions
- Knox v. Eden Musee Americain Co.New York Court of Appeals · 1896
- Weaver v. . BardenNew York Court of Appeals · 1872
- Grymes v. . HoneNew York Court of Appeals · 1872
- Merritt v. American Steel-Barge Co.Court of Appeals for the Eighth Circuit · 1897
- Moore v. . Metropolitan National BankNew York Court of Appeals · 1873
277 more not listed; retrieve them via the Exa API.