Adams v. Dick
Massachusetts Supreme Judicial Court
Contract under R. L. c. 99, §§ 4, 6, against the members of a firm of stockbrokers to recover money paid as margins on alleged wagering contracts. Writ dated November 17, 1910. In the Superior Court the case was tried before Jenney, J., without a jury.
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Contract under R. L. c. 99, §§ 4, 6, against the members of a firm of stockbrokers to recover money paid as margins on alleged wagering contracts. Writ dated November 17, 1910. In the Superior Court the case was tried before Jenney, J., without a jury. The plaintiff put in evidence the report of an auditor, who had found for the plaintiff in the sum of $23,031.50. The defendants put in evidence the testimony given before the auditor of one Shaw, the manager of the New York office of the defendants, of one Hunt, the managing partner of the defendants, and of one Graham, a member of the New…
1Opinion of the CourtRugg, C. J.
This is an action brought under R. L. c. 99, §§ 4, 6, to recover moneys paid to the defendants, who are stockbrokers, on account of stock transactions had with them by the plaintiff. That statute permits one, who, upon credit or upon margin, employs another to buy or sell securities for his account, “intending at the time that there shall be no actual purchase or sale,” to sue for and recover payments made on account of such transactions, if such other person “had reasonable cause to believe that said intention existed;” but that there shall be no right of action if such other person makes…
2Cases cited20 opinions
- Higgins v. McCreaSupreme Court of the United States · 1886
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- Taussig v. . HartNew York Court of Appeals · 1874
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