Newburger v. Lubell

This appeal relates to the action of three brothers who were engaged in business together in New York city. The names are Jacob Lubell, Abraham Lubell and Samuel Lubell. Jacob and Abraham, as a side issue or activity, dealt or speculated in stocks and carried accounts with the plaintiffs, who are stockbrokers, doing business under the name of Newburger, Henderson & Loeb. Samuel had no account with the firm but became a guarantor of his brother Jacob’s account, by writing dated November 13, 1929. Prior thereto and on October 25, 1929, Abraham had also guaranteed his brother Jacob’s account.…