Baker v. . Drake
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought against defendants, who were brokers in the city of Yew York, to recover damages for an alleged unauthorized sale by them of 500 shares of stock of the Chicago and Alton Bailroad Company’s stock which they had purchased for plaintiff.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought against defendants, who were brokers in the city of Yew York, to recover damages for an alleged unauthorized sale by them of 500 shares of stock of the Chicago and Alton Bailroad Company’s stock which they had purchased for plaintiff. The facts, pertinent to the question discussed, appear sufficiently in the opinion. The rule of damages laid down left no discretion to the jury and was incorrect. (Scott v.…
1Opinion of the CourtRapallo, J.
The most important question in this case is that which relates to the rule of damages. The judge at the trial, following the case of Markham v. Jaudon (41 N. Y., 235), instructed the jury that the plaintiff, if entitled to recover, was entitled to the difference between the amount for which the stock was sold by the defendants and the highest market value which it reached at- any time after such sale down to the day of trial.
This rule of damages has been recognized and adopted in several late adjudications in this State in actions for the conversion of property of fluctuating value; but its…
2Cases cited9 opinions
- Markham v. . JaudonNew York Court of Appeals · 1869
- Commercial Bank v. KortrightCourt for the Trial of Impeachments and Correction of Errors · 1839
- Kortright v. Buffalo Commercial BankNew York Supreme Court · 1838
- Romaine v. . Van AllenNew York Court of Appeals · 1863
- Scott v. . RogersNew York Court of Appeals · 1864
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3Cited by129 opinions
- Roxas v. MarcosHawaii Supreme Court · 1998
- Campagnola v. MulhollandNew York Court of Appeals · 1990
- Galigher v. JonesSupreme Court of the United States · 1889
- Hall v. PaineMassachusetts Supreme Judicial Court · 1916
- Freund v. Washington Square Press, Inc.New York Court of Appeals · 1974
124 more not listed; retrieve them via the Exa API.