Jones v. De Ronde

Plaintiffs in this case, who are members of the New York Stock Exchange, sued defendant for $17,951.44, balance on a customer’s account, and also claimed that there was an “ account stated ” as between the plaintiffs and the defendant by reason of the fact that an account had been mailed defendant, which he had accepted and retained without objection. Upon this account at the bottom were the words: “ It is agreed that all securities purchased or sold on margin or deposited in this account may be pledged by us with other securities or otherwise used in accordance with the customs of members of…