Manhattan Life Insurance v. Forty-Second Street & Grand Street Ferry Railroad
New York Court of Appeals
Appeal from jitdgment of the General Term of the Supreme Court in the first judicial department, 'entered upon an order made May 21, 1892, which affirmed a judgment in favor of defendant entered upon a decision of the court on trial at Circuit. This was an action to recover damages for the negligent and fraudulent acts of defendant’s officers in issuing a certificate for certain shares of its stock. The facts, so far as material, are stated in the opinion.
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Appeal from jitdgment of the General Term of the Supreme Court in the first judicial department, 'entered upon an order made May 21, 1892, which affirmed a judgment in favor of defendant entered upon a decision of the court on trial at Circuit. This was an action to recover damages for the negligent and fraudulent acts of defendant’s officers in issuing a certificate for certain shares of its stock. The facts, so far as material, are stated in the opinion. Defendant is liable to plaintiff for the acts of Allen, its president. A corporation whose officer negotiates a certificate of its stock,…
1Opinion of the CourtMaynard, J.
In September, 1888, Eben S. Allen, the president of the defendant, a domestic railroad corporation, forged a certificate of one hundred shares of its stock of the face value of 810,000, and pledged it as collateral security to the plaintiff for a personal loan of $6,500, which he then obtained. Default was made in the payment of the debt, and the plaintiff seeks to make the defendant liable for the amount of the loan, which is less in amount than the value of the stock, if it had been a genuine issue, and which represents the loss of the plaintiff by the fraud of the defendant's president.…
2Cases cited5 opinions
- First Nat. Bank v. . Ocean Nat. BankNew York Court of Appeals · 1875
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
- Farrington v. South Boston RailroadMassachusetts Supreme Judicial Court · 1890
- Stone v. HayesCourt for the Trial of Impeachments and Correction of Errors · 1846
- New York Life Insurance and Trust Co. v. . BeebeNew York Court of Appeals · 1852
3Cited by27 opinions
- David Crystal, Inc. v. Cunard Steam-Ship Co.Court of Appeals for the Second Circuit · 1964
- Hidden Brook Air, Inc. v. Thabet Aviation International Inc.District Court, S.D. New York · 2002
- Jarvis v. . Manhattan Beach Co.New York Court of Appeals · 1896
- Jennie Clarkson Home for Children v. Missouri, Kansas & Texas Railway Co.New York Court of Appeals · 1905
- Landau v. PercaccioloNew York Court of Appeals · 1980
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