Legal Opinion
Block v. Pennsylvania Exchange Bank
New York Court of Appeals
Decided March 18, 1930PublishedCited by 9 opinions
1Opinion of the Court
Cabdozo, Ch. J.
Plaintiffs, stockbrokers in the city of New York, bought shares of stock and subscription rights on the order of the defendant bank, which “ was acting as agent for a third party or parties unknown at said times to the plaintiffs.”
The bank declined to accept the certificates when tendered or to pay the purchase price. Upon this, the brokers sold what they had bought, and sued for the deficiency.
The Appellate Division sustained a motion by the defendant to dismiss the complaint upon the authority of its decision in Dyer v. Broadway Central Bank (225 App. Div. 366), which has…
2Cases cited12 opinions
- Dyer v. Broadway Central BankNew York Court of Appeals · 1930
- Richard v. Credit SuisseNew York Court of Appeals · 1926
- Whiting v. . Hudson Trust Co.New York Court of Appeals · 1923
- Empire Trust Co. v. CahanSupreme Court of the United States · 1927
- Le Marchant v. . MooreNew York Court of Appeals · 1896
7 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- New York State Ass'n of Life Underwriters, Inc. v. New York State Banking DepartmentNew York Court of Appeals · 1994
- Bank of America v. United StatesUnited States Court of Claims · 1982
- New York Stock Exchange, Inc. v. SmithDistrict Court, District of Columbia · 1975
- American Ins. Ass'n v. ClarkeDistrict Court, District of Columbia · 1987
- New York State Ass'n of Life Underwriters, Inc. v. New York State Banking DepartmentAppellate Division of the Supreme Court of the State of New York · 1993
4 more not listed; retrieve them via the Exa API.