Legal Opinion
Columbia v. Lee
Appellate Division of the Supreme Court of the State of New York
Decided February 8, 1935PublishedCited by 2 opinions
1Opinion of the CourtCarswell, J.
Plaintiff had a safekeeping account with the defendants, who are stockbrokers. He has recovered a judgment of $63,524.58 against them on the theory that, during a specified period, without authority they transferred free, to his damage, from his account, certain securities. These free transfers have been deemed acts of conversion. The term “ free transfer ” connotes the transfer by a stockbroker of a security from a customer’s account without consideration or the giving of a credit for its value.
Before this action for an accounting was brought, defendants gave plaintiff, in response to his…
2Cases cited4 opinions
- Lowenstein v. . Lombard, Ayres Co.New York Court of Appeals · 1900
- Bosak v. ParrishNew York Court of Appeals · 1929
- Gillett v. . WhitingNew York Court of Appeals · 1894
- Glor v. KellyAppellate Division of the Supreme Court of the State of New York · 1900
3Cited by2 opinions
- Alicia Ocean Transport v. Rollins Burdick Hunter of New York, Inc.District Court, S.D. New York · 1985
- Building Associates v. Continental American InsuranceCivil Court of the City of New York · 1974