Hopkins v. Clark
New York Court of Common Pleas
Appeal from trial term. Action by Henry C. Hopkins against James F. A. Clark and others to recover a balance of $2,911.41, with interest from March 16, 1893, alleged to be due plaintiff from defendants as brokers.
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Appeal from trial term. Action by Henry C. Hopkins against James F. A. Clark and others to recover a balance of $2,911.41, with interest from March 16, 1893, alleged to be due plaintiff from defendants as brokers. The defense was that, under authority conferred by plaintiff, defendants had purchased for the account of plaintiff 10 bonds, known as “Beading Thirds,” that this purchase was acquiesced in by plaintiff, and that a sudden decline of the bonds resulted in a loss which more than absorbed the balance due plaintiff prior to the purchase. Plaintiff denied that the purchase was authorized…
1Opinion of the CourtDaly, C. J.
Whether the plaintiff did or did not authorize the defendant Campbell, in his discretion, to purchase stocks for his account, he was bound, on receiving advice of the purchase of the Reading bonds, to promptly give notice to the defendants, his brokers, that he disavowed their act. Unless he did so, he would be held to ratify it. Gold Min. Co. v. National Bank, 96 U. S. 640. Hesitation, to await the result of the market, would be enough to constitute ratification. Johnson v. Jones, 4 Barb. 369. He was bound to disavow in a reasonable time. Law v. Cross, 1 Black, 533-539; Hoyt v. Thompson, 19…
2Cases cited13 opinions
- Gold-Mining Co. v. National BankSupreme Court of the United States · 1878
- Hemmens v. . NelsonNew York Court of Appeals · 1893
- Linkhauf v. . LombardNew York Court of Appeals · 1893
- Law v. CrossSupreme Court of the United States · 1862
- Colt v. . the Sixth Avenue Railroad CompanyNew York Court of Appeals · 1872
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3Cited by3 opinions
- New York Evening Journal Publishing Co. v. William F. Simpson Advertising Co.Appellate Terms of the Supreme Court of New York · 1908
- New York Evening Journal Publishing Co. v. William F. Simpson Advertising AgencyCity of New York Municipal Court · 1907
- New York Evening Journal Publishing Co. v. William F. Simpson Advertising AgencyCity of New York Municipal Court · 1907