Wynne v. Schnabaum
Supreme Court of Arkansas
Appeal from Randolph Circuit Court; John W. Meeks, Judge; 1. A commission merchant is only required to exercise ordinary and reasonable skill and diligence in his employment, and to obtain only the common market price in effecting sales, and is not liable for losses except through failure to use such diligence and skill. 12 Am. & Eng. Enc. Law, 658, and note 2; lb. 667 and note 3; 66 Am. Dec. 316; 18 111. App. 273; 61 Mo.
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Appeal from Randolph Circuit Court; John W. Meeks, Judge; 1. A commission merchant is only required to exercise ordinary and reasonable skill and diligence in his employment, and to obtain only the common market price in effecting sales, and is not liable for losses except through failure to use such diligence and skill. 12 Am. & Eng. Enc. Law, 658, and note 2; lb. 667 and note 3; 66 Am. Dec. 316; 18 111. App. 273; 61 Mo. App. 627. 2. The court erred in refusing the second, third and fifth instructions requested by plaintiffs. 1. The instruction complained of, as appears by the corrected…
1Opinion of the CourtBattle, J.
This action was brought in the Randolph Circuit Court by Wynne, Love & Company against A. Z. Schnabaum. Plaintiffs allege in their complaint that they are cotton factors and commission merchants, located in the city of Memphis, in the State of Tennessee; that the defendant was a merchant, doing business at Pocahontas, in this State, and was engaged in buying-selling and shipping cotton; that on the 18th of June, 1900, they entered into a contract with him, by which they were to advance and lend to him $2,000, and he was to ship to them 200 bales of cotton, or one bale for each $10 loaned, in…
2Cases cited4 opinions
- Durst v. . BurtonNew York Court of Appeals · 1872
- Gregory v. McDowelNew York Supreme Court · 1832
- Wemple v. StewartNew York Supreme Court · 1856
- McCarty v. QuimbySupreme Court of Kansas · 1874
3Cited by4 opinions
- Wynne, Love & Co. v. BunchSupreme Court of Arkansas · 1923
- Arkansas Fertilizer Co. v. BanksSupreme Court of Arkansas · 1910
- Joy Rice Milling Company v. BrownSupreme Court of Arkansas · 1925
- Joy Rice Milling Company v. BrownSupreme Court of Arkansas · 1925