Staples v. . Gould
New York Court of Appeals
Ok the 35th of January, 1851, the plaintiff employed the defendant, a broker, to sell for him two hundred shares of Canton Company stock, at $66 per share, deliverable, at the plaintiff’s option, at any time within thirty days from that date.
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Ok the 35th of January, 1851, the plaintiff employed the defendant, a broker, to sell for him two hundred shares of Canton Company stock, at $66 per share, deliverable, at the plaintiff’s option, at any time within thirty days from that date. At the same time he deposited with the defendant the sum of $750 “for the purpose of protecting the defendant against loss or damage in the business of such agency,” with the understanding between the parties that the defendant should retain so much thereof as should be necessary to indemnify him for any loss he might sustain by reason of such sale. In…
1Opinion of the CourtJohnson, J.
If there were no question of illegality in the case, it is quite clear that the plaintiff would be entitled to recover the money which he deposited with the defendant. The loss which the defendant incurred by the delivery, on the 20th of January, of the two hundred shares of Canton stock to the persons with whom he had, on the 15th of January, contracted on the plaintiff’s behalf to deliver it at any time within thirty days from the making of the bargain, at the plaintiff’s. election, was incurred solely by his unauthorized act in making that delivery. At the expiration of the time for…
2Cases cited1 opinion
- Gram v. StebbinsNew York Court of Chancery · 1836
3Cited by8 opinions
- Stone v. FreemanNew York Court of Appeals · 1948
- Adler v. . ZimmermanNew York Court of Appeals · 1922
- Tench v. LawsonAppellate Division of the Supreme Court of the State of New York · 1929
- John E. Rosasco Creameries, Inc. v. CohenAppellate Division of the Supreme Court of the State of New York · 1936
- Southwestern Shipping Corp. v. National City BankAppellate Division of the Supreme Court of the State of New York · 1958
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