Read v. Lambert
New York City Court
Appeal from a judgment dismissing a complaint. The action was brought by George W. Read as executor, against Edward Lambert. The allegations of the complaint were, substantially, that Henry W. Read employed the defendant Edward Lambert, on commission, as his broker and agent, in buying and selling securities, and collecting the interest thereon.
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Appeal from a judgment dismissing a complaint. The action was brought by George W. Read as executor, against Edward Lambert. The allegations of the complaint were, substantially, that Henry W. Read employed the defendant Edward Lambert, on commission, as his broker and agent, in buying and selling securities, and collecting the interest thereon. That between November 1, 1864, and November 1, 1865, the defendant bought on the account of said Read, United States bonds, with interest coupons attached, amounting at par to one hundred and fifty thousand dollars, which defendant has retained as…
1Opinion of the Court
By the Court.—Neilson, J.
The defendant, as the *431broker of Henry W. Read, the testator, purchased for him certain bonds of the United States, with coupons attached. The testator contributed some money towards the purchase, but the larger portion of the price was advanced by the defendant. He held the bonds as security for what might be due to him on the account, and in the due course of business collected some of the coupons. The legal title to the bonds and coupons was in the testator.
The amount due to the defendant on those transactions for advances, interest and commissions was never…
2Cases cited16 opinions
- Markham v. . JaudonNew York Court of Appeals · 1869
- Conaughty v. . NicholsNew York Court of Appeals · 1870
- Cortelyou v. LansingNew York Supreme Court · 1796
- Wright v. . HookerNew York Court of Appeals · 1854
- Brass v. WorthNew York Supreme Court · 1863
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