Conkey v. . Bond
New York Court of Appeals
Appeal from tbe Supreme Court. Tbe action was brought to rescind a sale of stock in tbe Oswego Starch Company, made by tbe Defendant to tbe Plaintiff in February, 1857, and to recover $1,500, tbe price paid therefor, and certain payments made by the Plaintiff as a stockholder. The complaint alleged the facts upon which the Plaintiff claimed, and that the sale was fraudulent in fact and in law.
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Appeal from tbe Supreme Court. Tbe action was brought to rescind a sale of stock in tbe Oswego Starch Company, made by tbe Defendant to tbe Plaintiff in February, 1857, and to recover $1,500, tbe price paid therefor, and certain payments made by the Plaintiff as a stockholder. The complaint alleged the facts upon which the Plaintiff claimed, and that the sale was fraudulent in fact and in law. These were, in substance, that-the Defendant undertook to purchase stock in that Company as his agent, and that he fraudulently transferred his own stock to the Plaintiff, at a price greatly exceeding…
1Opinion of the CourtPaeKee, J.
The fact that the Defendant volunteered his agency, did not absolve him from the duty of fidelity, in the relation of trust and confidence which he sought and assumed. The Plaintiff was induced to purchase, at an extravagant premium, stock of the value of which he was ignorant, on the mistaken representations of the Defendant, who professed to have none which he was willing to sell. This assurance very naturally disarmed the vigilance of the Respondent; and he availed himself of the Defendant’s offer, by authorizing him to buy at the price he named. The Defendant did not buy, but sent him a…
2Cases cited1 opinion
- Conkey v. BondNew York Supreme Court · 1861
3Cited by19 opinions
- Jansen v. WilliamsNebraska Supreme Court · 1893
- Beebe v. Board of Sup'rsNew York Supreme Court · 1892
- Metropolitan Elevated Railway Co. v. Manhattan Elevated Railway Co.New York Court of Common Pleas · 1884
- Porter v. WoodruffNew Jersey Court of Chancery · 1882
- Evans v. Brown Et Ux.Supreme Court of Oklahoma · 1912
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