Rumery v. Brooks
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, Louis Brooks, from a judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of New York on the 1st day of June, 1922, upon the decision of the court rendered after a trial at the New York Trial Term, a jury having been waived.
1Opinion of the Court
McAvoy, J.:
Plaintiff and defendant were both customers of a brokerage house known as the firm of Toole, Henry & Co. This firm failed in March, 1919. In December, 1917, the defendant had purchased five United Kingdom of Great Britian and Ireland five and one-half per cent notes of the par value of $1,000 each through his brokers and had left these notes in their possession. The defendant was at the time carrying on a stock account with these brokers which was conducted on marginal operations. During the period, from the purchase of the notes down to their ultimate delivery, defendant was…
2Cases cited1 opinion
- Talmage v. HunttingNew York Court of Appeals · 1864