Hendrickson v. Callan
New York Supreme Court
Action on contract to recover $1,500 and interest from January 1, 1910, for alleged breach of contract to purchase bonds and stocks. Plaintiff and defendant with John J. Gallogly were syndicate managers of a syndicate formed for the -purpose of combining the business of two corporations, and to provide for an issue of bond® of the Hygienic Ice and Refrigerating 'Company, by the sale of a portion of which the sum of $100,000 was to be raised for corporate purposes.
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Action on contract to recover $1,500 and interest from January 1, 1910, for alleged breach of contract to purchase bonds and stocks. Plaintiff and defendant with John J. Gallogly were syndicate managers of a syndicate formed for the -purpose of combining the business of two corporations, and to provide for an issue of bond® of the Hygienic Ice and Refrigerating 'Company, by the sale of a portion of which the sum of $100,000 was to be raised for corporate purposes. An .underwriting agreement was prepared to be executed by. the syndicate managers, by the terms of which the subscribers agreed to…
1Opinion of the CourtLe Boeuf, J.
The securities referred to in the underwriting agreement came into existence within the year 1909. The plaintiff, pursuant to the terms of that agreement which permitted him to obtain possession of them before the time for the payment of the last instalment had expired, obtained possession of these securities during the year 1909. There was nothing, therefore, to relieve either party from whatever their responsibilities were under this contract during the year 1909.
It is plain from the contract that the plaintiff, who drew it, intended to obligate the defendant to purchase one-half of Ms…
2Cases cited9 opinions
- Aultman Taylor Co. v. . SymeNew York Court of Appeals · 1900
- Lester v. . JewettNew York Court of Appeals · 1854
- Benedict v. . PincusNew York Court of Appeals · 1908
- Page v. . ShainwaldNew York Court of Appeals · 1901
- Benoit v. New York Central & Hudson River RailroadAppellate Division of the Supreme Court of the State of New York · 1904
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3Cited by1 opinion
- Ekas v. City Cab Co. of Jamestown, New York, Inc.New York Supreme Court · 1953