Beadles, Wood & Co. v. McElrath & Co.
Court of Appeals of Kentucky
Case 33 — PETITION ORDINARY APPEAL PROM GRAVES CIRCUIT COURT. APPEAL PROM CALDWELL CIRCUIT COURT. 1. It is legitimate to speculate in the future prices of articles of commerce by making executory contracts for their future delivery at an agreed price, and then, before the contracts mature, to sell them to any person who may desire to purchase; and there is nothing to show that such was not the intention of the parties in this case.
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Case 33 — PETITION ORDINARY APPEAL PROM GRAVES CIRCUIT COURT. APPEAL PROM CALDWELL CIRCUIT COURT. 1. It is legitimate to speculate in the future prices of articles of commerce by making executory contracts for their future delivery at an agreed price, and then, before the contracts mature, to sell them to any person who may desire to purchase; and there is nothing to show that such was not the intention of the parties in this case. (Sawyer-Wallaco Case, 14 Bush, 735.) 2. The contracts were prima facie enforceable, and, therefore, valid, and it is incumbent on appellees to overcome this…
1Opinion of the CourtChief Justice Pkyob
delivered the opikiok oe the court,,
These two cases were argued and will be considered as one case.
The appellants, Beadles, Wood «fe Co., were cotton-brokers, engaged in. buying and selling cotton on commission, as they allege, in the city of New Orleans. They instituted these, actions in the court below against the appellees for large sums of money said to have been advanced by them for the appellees in the purchase and sale of cotton on the Cotton Exchange in the city of New Orleans.
The appellees, by way of defense, allege, in substance, that the claim set up by the apjjellants origi*234Bated…
2Cases cited1 opinion
- Sawyer, Wallace & Co. v. TaggartCourt of Appeals of Kentucky · 1879
3Cited by9 opinions
- Connor v. BlackSupreme Court of Missouri · 1893
- Johnson v. John F. Clark CompanyCourt of Appeals of Kentucky (pre-1976) · 1927
- Kneffler v. CommonwealthCourt of Appeals of Kentucky · 1893
- Lyons v. HodgenCourt of Appeals of Kentucky · 1890
- John L. Dunlap & Co. v. PerryCourt of Appeals of Kentucky · 1921
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