Consider Parish v. New York Produce Exchange
New York Court of Appeals
Appeal from a judgment of the Appellate' Division of the Supreme Court in the first judicial department entered April 17, 1901, affirming a judgment in favor of plaintiffs entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion. The gratuity system exists in the charter and by-laws of the exchange and not in a contract between the members outside the corporate relation. (Hellenberg v. Dist.
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Appeal from a judgment of the Appellate' Division of the Supreme Court in the first judicial department entered April 17, 1901, affirming a judgment in favor of plaintiffs entered upon the report of a referee. The nature of the action and the facts, so far as material, are stated in the opinion. The gratuity system exists in the charter and by-laws of the exchange and not in a contract between the members outside the corporate relation. (Hellenberg v. Dist. No. 1, I. O. of B. B., 94 N. Y. 580; Kemp v. N. Y. Produce Exch., 34 App. Div. 175; McGord v. McGord, 40 App. Div. 275; People ex rel. v.…
1Opinion of the Court
Parker, Ch. J.
The defendant corporation came into existence under the name of the Hew York Commercial Association. Its purposes were declared by the act of incorporation to be:
“ To provide and regulate a suitable room or rooms for a produce exchange in the city of Hew York, to inculcate just and equitable principles in trade, to establish and maintain uniformity in commercial usages, to acquire, preserve and disseminate valuable business information, and to adjust controversies and misunderstandings between persons engaged in business.” (Section 3 of chapter 359, Laws of 1862.)
The name was…
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