White v. . Smith
New York Court of Appeals
Appeal from j ndgment of the General Term of the Supreme Court in the second judicial department, affirming a judgment .in favor of plaintiff, entered upon a, verdict. The action was against, the defendants as stock-brokers, to recover damages for disobedience of instructions.
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Appeal from j ndgment of the General Term of the Supreme Court in the second judicial department, affirming a judgment .in favor of plaintiff, entered upon a, verdict. The action was against, the defendants as stock-brokers, to recover damages for disobedience of instructions. Plaintiff, a resident of St. Louis, employed defendants as his brokers to operate in stocks in Hew York city, they to receive the usual commissions and interest, and to advance for plaintiff’s account the cost of all stocks purchased for him, he to furnish the customary margin of ten per cent. Up to October 14th, 1869,…
1Opinion of the Court
Earl, C.
On the trial the defendants claimed that the plaintiff suffered no loss from their disobedience of his order, because he could have bought the stock in the market for the same price they could, and that the plaintiff should be defeated, because he had no right to insist that they should advance the cost of the stock which they were ordered to purchase. The court ruled that the proper measure of damages was the profit the plaintiff would have made if the defendants had obeyed his order, and instructed the jury that this was to be arrived at by comparing the price at which the stock was…
2Cited by19 opinions
- Campbell v. . WrightNew York Court of Appeals · 1890
- Bushnell v. CurtisAppellate Court of Illinois · 1925
- James Wood General Trading Establishment v. CoeDistrict Court, S.D. New York · 1961
- Barber v. EllingwoodAppellate Division of the Supreme Court of the State of New York · 1911
- Barber v. EllingwoodAppellate Division of the Supreme Court of the State of New York · 1909
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