Wagner v. Hildebrand
Supreme Court of Pennsylvania
Appeal, No. 60, Jan. T., 1898, by plaintiff, from judgment of O. P. No. 4, Phila. Co., June T., 1895, No. 911, on verdict for defendant. Assumpsit to recover a balance alleged to be due in tbe purchase and sale of stocks. Before Willson, J. Tlie facts appear by tlie opinion of the Supreme Court.
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Appeal, No. 60, Jan. T., 1898, by plaintiff, from judgment of O. P. No. 4, Phila. Co., June T., 1895, No. 911, on verdict for defendant. Assumpsit to recover a balance alleged to be due in tbe purchase and sale of stocks. Before Willson, J. Tlie facts appear by tlie opinion of the Supreme Court. The court charged as follows: Tlie suit here is brought in tlie name of tbe assignee against this defendant, but tbe assignee for the benefit of creditors is suing entirely in the light of Louchheim & Company, and has no higher claim than they. It is precisely the same as if suit were brought by…
1Opinion of the Court
Opinion by
Mr. Justice Fell,
The law relating to stock-gambling transactions has been considered in a line of cases extending from Brua’s Appeal, 55 Pa. 294, to Anthony v. Unangst, 174 Pa. 10, and it has been firmly settled. A purchase of stock on margin for speculation is not necessarily a gambling transaction. If it is the intention of the parties that a real purchase shall be made by the broker, *142although the delivery may be postponed or made to depend upon future conditions, the transaction is legal; if it is the intention that there is not to be a delivery to complete the purchase, but that…
2Cases cited3 opinions
- Peters v. GrimSupreme Court of Pennsylvania · 1892
- Brua's AppealSupreme Court of Pennsylvania · 1867
- Anthony v. UnangstSupreme Court of Pennsylvania · 1896
3Cited by8 opinions
- Assigned Estate of L. H. Taylor & Co.Supreme Court of Pennsylvania · 1899
- Carson v. Milwaukee Produce Co.Wisconsin Supreme Court · 1907
- Donovan v. DaiberMichigan Supreme Court · 1900
- Fearon v. LittleSupreme Court of Pennsylvania · 1910
- Childers v. O'MalleyDistrict Court, D. Alaska · 2024
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