Legal Opinion
Lynch v. Simmonds
Appellate Terms of the Supreme Court of New York
Decided March 24, 1904PublishedCited by 4 opinions
Appeal from Municipal Court, Borough of Manhattan, Tenth District. Action by George M. Lynch against Frederick Simmonds and another. Judgment for plaintiff, and defendants appeal. Reversed.
1Opinion of the CourtScott, J.
The defendants, as stockbrokers, were carrying certain stocks for plaintiff on margin. On May 20, 1903, they mailed him a letter in which they called his attention to the fact that the market was, as they, expressed it, “very weak,” and they had been compelled to sell out some of his holdings. They still held for him certain other stocks, and, in the letter referred to, they said:
“Your margin having become low we did not know just what you wished to do, but had to proceed as stated above. If you desire us to hold your stock kindly advise us before the opening of the market Thursday (May 21)…
2Cited by4 opinions
- Rubin v. SalomonCity of New York Municipal Court · 1930
- Krugman v. Hanover Fire InsuranceAppellate Terms of the Supreme Court of New York · 1904
- Crowell v. CohenCity of New York Municipal Court · 1934
- Lewis v. Hecker, Pennsylvania Court of Common Pleas, Philadelphia County1934