Bayard v. Farmers' & Mechanics' Bank
Supreme Court of Pennsylvania
Certificate from Nisi Prius. This was an amicable action and case stated between Thomas F. Bayard and The Farmers’ and Mechanics’ Bank of Philadelphia. The defendants, as agents of the Commonwealth, issued to “ Henry D. Gilpin, trustee,” certificates for $4036.53 of the 5 per cent, stock of the Commonwealth, and to “ Henry D. Gilpin, trustee of Mary Gilpin,” certificates for $8366.96 of the same stock.
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Certificate from Nisi Prius. This was an amicable action and case stated between Thomas F. Bayard and The Farmers’ and Mechanics’ Bank of Philadelphia. The defendants, as agents of the Commonwealth, issued to “ Henry D. Gilpin, trustee,” certificates for $4036.53 of the 5 per cent, stock of the Commonwealth, and to “ Henry D. Gilpin, trustee of Mary Gilpin,” certificates for $8366.96 of the same stock. Mr. Gilpin having died, and Thomas F. Bayard having been appointed trustee of Mary Gilpin, the executors of Mr. Gil-pin afterwards transferred both sums to him as “ trustee of Mary Gilpin,” and…
1Opinion of the Court
The opinion of the court was delivered, May 15th 1866, by
Strong, J.
Passing by the question whether the defendants, being mere agents of the Commonwealth, are liable to damages at the suit of the plaintiff, even for a wrongful refusal to permit him to transfer the stock, we come immediately to the inquiry whether their refusal was wrongful. Certainly they were under no obligation to permit a transfer if their permission would have exposed them or their principals to a successful claim by any one for the replacement of the stock, or for its value. In a certain *235sense, they were custodians of the…
2Cases cited2 opinions
- Chew v. Bank of BaltimoreCourt of Appeals of Maryland · 1859
- Albert v. Mayor of BaltimoreCourt of Appeals of Maryland · 1852
3Cited by10 opinions
- Leff v. N. Kaufman's, Inc.Supreme Court of Pennsylvania · 1941
- Kenworthy v. Equitable Trust Co.Supreme Court of Pennsylvania · 1907
- First Nat. Bank v. Pittsburgh, F. W. & C. Ry. Co.District Court, E.D. Pennsylvania · 1939
- Shear Co. v. WilsonTexas Commission of Appeals · 1927
- Soltz v. Exhibitors' Service Co.Supreme Court of Pennsylvania · 1939
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