Staples v. Gould
The Superior Court of New York City
This action was tried before the Chief Justice, in December, 1851, and a verdict taken for the plaintiff, for $800, subject to opinion of the court, at a general term. The pleadings and evidence establish the following facts.
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This action was tried before the Chief Justice, in December, 1851, and a verdict taken for the plaintiff, for $800, subject to opinion of the court, at a general term. The pleadings and evidence establish the following facts. The plaintiff, on the 15th of January, 1851, employed the defendant, a broker, to sell for him 200 shares of Canton Company stock, at the price of $66 per share, deliverable at the option of the plaintiff at any time within thirty days from that date, the stock to be paid for on delivery. In pursuance of such employment, the defendant, on the same day, as such broker and…
1Opinion of the Court
By the Court.
Bosworth, J.
The plaintiff advanced his money to the defendant, to indemnify him against any losses he might incur by reason of making, or having made, contracts for the sale of two hundred shares of Canton stock. The obvious purpose of the advance was to furnish moneys, with which the defendants might pay the amount of any increase there might be in the value of the stock on the day for the delivery of it, above the contract price of $66 per share. The plaintiff did not own any stock at the time he authorized the contract to be made, nor at the time he was notified that the…
2Cases cited4 opinions
- Pennington v. TownsendNew York Supreme Court · 1831
- Morgan v. GroffNew York Supreme Court · 1848
- Gram v. StebbinsNew York Court of Chancery · 1836
- J. & W. G. Ward v. Van DuzerThe Superior Court of New York City · 1829
3Cited by1 opinion
- Staples v. GouldNew York Court of Appeals · 1854