Wahl v. Tracy
Wisconsin Supreme Court
Appeal from an order of tbe circuit court for Milwaukee-county: Warren D. Tarrant, Circuit Judge. Defendants appeal from order overruling a? demurrer totbe complaint, wbicb alleges tbat tbe plaintiff, a surgeon, and unfamiliar with dealings in stocks, between tbe 6th and 20tb day of January, 1908, placed in tbe bands of the defendants, who were stock brokers in New York, tbe sum of $12,800,. with direction to purchase certain specified stock at tbe market price, for cash,…
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Appeal from an order of tbe circuit court for Milwaukee-county: Warren D. Tarrant, Circuit Judge. Defendants appeal from order overruling a? demurrer totbe complaint, wbicb alleges tbat tbe plaintiff, a surgeon, and unfamiliar with dealings in stocks, between tbe 6th and 20tb day of January, 1908, placed in tbe bands of the defendants, who were stock brokers in New York, tbe sum of $12,800,. with direction to purchase certain specified stock at tbe market price, for cash, such deposit being sufficient for tbat purpose; tbat defendants, in violation of tbe instructions and direction given by…
1Opinion of the CourtDodge, J.
It is of course obvious, and appellants in effect -concede, that the complaint categorically alleges a breach by the defendants of their duty to the plaintiff assumed by them by the acceptance of .employment as brokers. By such acceptance they became agents of the plaintiff and, being intrusted with his money for a special purpose, owed to him the ordinary fiduciary duties of good faith and due diligence in carrying out his instructions. Hill v. Am. S. Co. 107 Wis. 19, 81 N. W. 1024, 82 N. W. 691; Isham v. Post, 141 N. Y. 100, 35 N. E. 1084; 1 Dos Bassos, Stock Brokers (2d ed.) 218 et seq.…
2Cases cited12 opinions
- Sibbald v. . the Bethlehem Iron CompanyNew York Court of Appeals · 1881
- Richardson v. ShawSupreme Court of the United States · 1908
- Markham v. . JaudonNew York Court of Appeals · 1869
- Skiff v. StoddardSupreme Court of Connecticut · 1893
- Harris v. City of PhiladelphiaSupreme Court of Pennsylvania · 1893
7 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Austin v. HaydenMichigan Supreme Court · 1912
- Commonwealth v. AnthonyMassachusetts Supreme Judicial Court · 1940
- Furber v. DaneMassachusetts Supreme Judicial Court · 1910
- Korns v. Thomson & McKinnonDistrict Court, D. Minnesota · 1938
- Cisler v. RayCalifornia Supreme Court · 1931