Pistell, Deans & Co. v. Obletz

The plaintiff is a corporation engaged in the stock brokerage business. On the 5th day of September, 1929, the defendant gave an order to an employee of the plaintiff named Stoner, to have the plaintiff purchase for the defendant’s account 200 shares of a certain stock known as Interbanc Investors, Inc., at the market price and promised to pay plaintiff all sums advanced by the plaintiff in the purchase of this stock, together with interest and also with commissions. At the time that the order was given the stock of the Interbanc Investors, Inc., had not been issued and it was understood that…