Craig v. Hyde
New York Supreme Court
The defendants in this action were Hiram Hyde, James C. Cogswell, and The American Telegraph Company. The complaint set forth an agreement between Hyde and D. H. Craig, wherennder Hyde subscribed for 330 shares of the capital stock of the telegraph company, 210 of which were to belong to Craig, and the remaining 120 shares to Hyde.
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The defendants in this action were Hiram Hyde, James C. Cogswell, and The American Telegraph Company. The complaint set forth an agreement between Hyde and D. H. Craig, wherennder Hyde subscribed for 330 shares of the capital stock of the telegraph company, 210 of which were to belong to Craig, and the remaining 120 shares to Hyde. The plaintiff, the wife of D. H. Craig, became the assignee of his interest in the agreement, and subsequently received transfers of the 210 shares. Certificates for 120 shares were issued by the company to Hyde, who afterwards (in the fall of 1857) transferred…
1Opinion of the Court
Clerke,-Justice.
Even assuming that the plaintiff did not, in person or by her agent, authorize the American Telegraph Company to transfer the amount in question ($3,661.23) to the credit of the stock held in Cogswell’s name, yet this was nothing more than the misapplication of that sum by the company, for which the latter alone are responsible to the plaintiff in an action for a money demand. The relation between the plaintiff and the company was that of creditor and debtor, and there is no reason why the *315liabilities pertaining to such a relation should,- in this case, be enforced by any…
2Cited by1 opinion
- Rowell v. MoellerNew York Supreme Court · 1895