McDonald v. Dewey

In each of these non-jury cases the plaintiff seeks to recover from defendant brokers with interest thereon $3,000 paid to defendants for 100 shares of American State Bank stock. Recovery is sought both on the grounds of rescission and of breach of contract. Plaintiffs’ orders for stock were placed with the brokers about noon, March 12, 1931. Defendants ordered this stock from other brokers at once and immediately reported and confirmed the purchase of the stock to Mr. Shafer who, in these transactions, was acting both for himself and as agent for Mr. McDonald. That same afternoon Shafer…