Fatman v. Lobach
The Superior Court of New York City
This was an action to compel the return and delivery to the plaintiff of certain certificates of stock, or in default thereof, the payment by the defendants, as the value of the stock, of $15 25, with interest. The cause was tried before Mr. Justice Campbell, and a jury, on the 21st of June, 1852. In order that the application of the evidence given on the trial may be properly understood, it will be necessary to state the substance of the pleadings.
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This was an action to compel the return and delivery to the plaintiff of certain certificates of stock, or in default thereof, the payment by the defendants, as the value of the stock, of $15 25, with interest. The cause was tried before Mr. Justice Campbell, and a jury, on the 21st of June, 1852. In order that the application of the evidence given on the trial may be properly understood, it will be necessary to state the substance of the pleadings. The complaint stated that the plaintiffs were partners under the name and firm of S. Fatman & Co., and on or about the 16th of August, 1851, were…
1Opinion of the Court
By the Court. Oakley, Ch. J.
The question is, whether *361the defendants, having advanced their money in good faith to Esenwein, upon the pledge of the stocks, are entitled to retain them, until the balance still due to them shall be satisfied, and we are clearly of opinion that they are so entitled, both in law and in equity. ' «
As each certificate was accompanied by a power of attorney which was expressed to be given for value received, and, on its face, was irrevocable, the defendants were fully justified in believing that Esenwein was the equitable owner of the shares, and had a perfect right…
2Cited by11 opinions
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- Brewster v. SimeCalifornia Supreme Court · 1871
- Walker v. Detroit Transit Railway Co.Michigan Supreme Court · 1882
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