Crusius v. Louchheim

Plaintiff in an action against a firm of stockbrokers asks for summary judgment and judgment on the pleadings. The essential point at issue centers about the legal effect of a transaction in which defendants represented the plaintiff in dealing with another broker. The facts in brief are that the plaintiff opened and conducted a margin account with the defendants for the purchase and sale of securities. No question is raised with respect to any of the transactions in that account, except the matter arising out of an option known as a “ put ” of 100 shares of Manhattan Electrical Supply…