Bryan v. Baldwin
New York Supreme Court
This was an appeal by the defendant from a judgment for the plaintiff, entered upon the decision of a judge at Special Term.
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This was an appeal by the defendant from a judgment for the plaintiff, entered upon the decision of a judge at Special Term. The action was brought by plaintiff as indorsee to recover a balance claimed- upon a promissory note, which was set forth in the complaint as follows, viz.: “ $7,266.95. New York, August 24th, 1866. “ On or before the fifteenth day of November next I promise to pay Silas M. Stilwell, or order, $7,266.95, for value received, with interest at the rate of seven per cent per annum, having deposited with him as collateral security (with authority to sell the same on the…
1Opinion of the Court
By the Court—
Gilbert, J.
We agree with the court below, that the evidence did not make out a conversion of the stock. If the sale was ineffectual to change the title to the stock, such title remained vested as it was before the sale. The court acted on the assumption that the sale was made without notice to the defendant. If this assumption had been correct, the sale would have been a nullity, unless the defendant afterward ratified it. The defendant, however, denies the validity of the sale, and so in effect repudiates the transaction, while at the same time he seeks to make the plaintiff…
2Cited by2 opinions
- Johnson v. WinslowNew York Supreme Court · 1935
- Elrae Corp. v. Bankers Trust Co.New Jersey Court of Chancery · 1929