Legal Opinion
Merrill Lynch, Pierce, Fenner & Smith, Inc. v. City National Bank of Detroit, Joseph Pagoto
Court of Appeals for the Sixth Circuit
Decided August 21, 1980No. 78-1525PublishedCited by 3 opinions
1Per curiam
This is an appeal from a declaratory judgment action in which Judge DeMascio held that Merrill Lynch were entitled to recover a portfolio of securities. On April 24, 1969, Merrill Lynch mailed the securities in a package from its New York office to the manager of its Detroit office; the certificates were stolen and ultimately one Daniel Cimini was convicted of the theft. The face of the certificates contained the stamp of Merrill Lynch which certified that they were the owners of the certificates; the back of some of the certificates bore the legend “Transfer only as directed on instructions…
2Cases cited4 opinions
- Von Gohren v. Pacific National BankCourt of Appeals of Washington · 1973
- Hollywood National Bank v. International Business MacHines Corp.California Court of Appeal · 1974
- Hartford Accident & Indemnity Co. v. Walston & Co.New York Court of Appeals · 1967
- Seattle-First National Bank v. RandallCourt of Appeals for the Ninth Circuit · 1976
3Cited by3 opinions
- First National Bank of Cicero v. Lewco Securities Corp.Court of Appeals for the First Circuit · 1989
- Farmers & Merchants State Bank, an Idaho Banking Corporation v. Western Bank, an Oregon Banking CorporationCourt of Appeals for the Ninth Circuit · 1988
- Valley National Bank v. PorterCourt of Appeals for the Eighth Circuit · 1983