Policastro v. Charles S. Sprague Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, Nicholas Policastro, from a judgment of the Supreme Court in favor of the defendants, entered in the office of the clerk of the county of New York on the 29 th day of March, 1916, upon the verdict of a jury rendered by direction of the court after certain questions submitted had been answered by the jury, and also from the order entered in said clerk’s office on the 28th day of March, 1916, directing the verdict.
1Opinion of the Court
Page, J.:
The action was brought by the plaintiff to recover damages alleged to have been sustained by reason of the failure of the defendants, a firm of stockbrokers, to sell stock when the price limited in a stop-loss order was reached. The defendants had purchased and were carrying on a margin account for the plaintiff 7,000 shares of the Jumbo Extension Mining Company stock. On December 1, 1914, the plaintiff testified that he gave a stop-loss order at three dollars per share. The defendants did not sell the stock and continued to carry it until the *419fifth and sixth of January, when the…
2Cases cited1 opinion
- Allen v. . McConiheNew York Court of Appeals · 1891
3Cited by3 opinions
- Alexas v. Post & FlaggSupreme Court of South Carolina · 1924
- Newburger v. LevinsonAppellate Division of the Supreme Court of the State of New York · 1921
- Murphy v. BishopAppellate Division of the Supreme Court of the State of New York · 1918