Kip v. Howes
The Superior Court of New York City
Appeal from a judgment entered on the report of a referee. The firm of «Morse & Co., (composed of Anthony W. Morse and J. Cady Brown,) employed Charles E. Anderson, an exchange and general commission broker, to procure for them a loan on certain securities, and furnished him with the securities for that purpose ; under this authority, Anderson procured a loan from defendants, for said Morse & Co., and pledged to defendants as security for such loan, the securities with which…
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Appeal from a judgment entered on the report of a referee. The firm of «Morse & Co., (composed of Anthony W. Morse and J. Cady Brown,) employed Charles E. Anderson, an exchange and general commission broker, to procure for them a loan on certain securities, and furnished him with the securities for that purpose ; under this authority, Anderson procured a loan from defendants, for said Morse & Co., and pledged to defendants as security for such loan, the securities with which Morse & Co., had furnished him. At the maturity of the loan, Anderson paid the defendants the amount oí the loan, with…
1Opinion of the Court
By the court, Jones, J.
I think the evidence amply sufficient to prove an authority in Anderson, as to the defendants to repay to them the loans obtained from them, and to take up the securities pledged by him therefor. Such authority would continue as to the defendants until they were apprised of its termination, a notice to them of the revocation of the authority would terminate it as to them ; but it may be terminated as to them in other ways, such as a knowledge of circnmstances inconsistent with its continuance.
In this case Anderson as he had before done, went to the defendants with funds…
2Cited by1 opinion
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