Weston v. Jordan
Massachusetts Supreme Judicial Court
Tort, by the assignee in insolvency of Philip D. Wheatland, to recover the difference between certain sums of money paid to Wheatland by the defendant on October 9,11, and 18,1889, and the/ then market value of certain shares of stock which it was •alleged Wheatland had transferred and delivered on those dates to the defendant, with a view to giving a preference in violation of the insolvent laws.
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Tort, by the assignee in insolvency of Philip D. Wheatland, to recover the difference between certain sums of money paid to Wheatland by the defendant on October 9,11, and 18,1889, and the/ then market value of certain shares of stock which it was •alleged Wheatland had transferred and delivered on those dates to the defendant, with a view to giving a preference in violation of the insolvent laws. The action was commenced on October 25,1894, and, upon the death of the defendant on November 15, 1895, his executors appeared and defended. At the trial in the Superior Court, before Lilley, J.,…
1Opinion of the CourtAllen, J.
The defendant contends that the relation between Jordan and Wheatland was that of pledgor and pledgee, and that the transactions complained of by which Jordan paid to Wheat-land the balance of the cost of the shares and received from Wheatland the shares were entirely legitimate, being merely a carrying out of the contract upon which the shares were bought, and not voidable as a preference under the insolvent laws.
When a broker buys shares on a margin'and carries them for his customer, it has been held in some States that the relation between the customer and the broker is that of pledgor and…
2Cases cited7 opinions
- Markham v. . JaudonNew York Court of Appeals · 1869
- Skiff v. StoddardSupreme Court of Connecticut · 1893
- Baker v. . DrakeNew York Court of Appeals · 1876
- Taussig v. . HartNew York Court of Appeals · 1874
- Colt v. . OwensNew York Court of Appeals · 1882
2 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Commonwealth v. HullMassachusetts Supreme Judicial Court · 1937
- Chase v. City of BostonMassachusetts Supreme Judicial Court · 1902
- Rice v. WinslowMassachusetts Supreme Judicial Court · 1902
- Brown v. RushtonMassachusetts Supreme Judicial Court · 1916
- Chapin v. BrickleyCourt of Appeals for the First Circuit · 1923
11 more not listed; retrieve them via the Exa API.