J. C. McNaughton Co. v. Haldeman
Supreme Court of Pennsylvania
Appeal, No. 3, Jan. T., 1894, by defendant, Thomas J. Haldeman, from judgment of C. P. Delaware Co., June T., 1890, No. 81, on verdict for plaintiff, J. C. McNaughton Co. Assumpsit on promissory note by indorsee against indorser. At the trial, before Clayton, P. J., it appeared that I. L. Haldeman was a stock broker, and J. C. McNaughton was one of his customers. In settlement of certain transactions between them, the note in suit was given by Haldeman to McNaughton.
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Appeal, No. 3, Jan. T., 1894, by defendant, Thomas J. Haldeman, from judgment of C. P. Delaware Co., June T., 1890, No. 81, on verdict for plaintiff, J. C. McNaughton Co. Assumpsit on promissory note by indorsee against indorser. At the trial, before Clayton, P. J., it appeared that I. L. Haldeman was a stock broker, and J. C. McNaughton was one of his customers. In settlement of certain transactions between them, the note in suit was given by Haldeman to McNaughton. Before the note was given to McNaughton, it was indorsed by T. J. Haldeman. After the payee received it, he wrote his own name…
1Opinion of the Court
Opinion by
Mr. Justice Gbeen,
It is impossible to tell from the deposition of I. L. Haldeman *149what the exact consideration of the note in suit was. He says, “ It was to settle a balance in a stock transaction between J. O. McNaughton and myself. That balance was made up of profit and losses in those transactions.” He further said that he never bought any stock for McNaughton and of course he never sold any. He however received money from McNaughton by way of margins and he had a number of settlements with him during their transactions. Of course there was money due from I. L. Haldeman to…
2Cases cited1 opinion
- Peters v. GrimSupreme Court of Pennsylvania · 1892
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