White v. . Baxter
New York Court of Appeals
Appeal from judgment of the General Term of the Superior Court of the city of New York, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought upon an alleged contract of indemnity.
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Appeal from judgment of the General Term of the Superior Court of the city of New York, affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought upon an alleged contract of indemnity. Plaintiff’s evidence tended to establish the following facts: That the Open Board of Stock Brokers of the city of New York, of which he was a member, was a voluntary association of stock brokers, who had signed and agreed to be bound by its constitution and by-laws. These provided, among other things that either party to a time contract might call for a mutual deposit of ten per…
1Opinion of the CourtRapallo, J.
We are of opinion that the agreement testified to by the plaintiff and found by the jury, was supported by a sufficient consideration. When the plaintiff was called upon by Currie, Martin & Co. for the deposit of $10,000, it was an opeiS* and perhaps doubtful, question whether they had a right to make the call. The president of the board and the arbitration committee, appear by their acts to have been of opinion that Currie, Martin & Co. had such right. The defendant deemed that they had not. The plaintiff however, by refusing to make the deposit, incurred the risk of suspension; and for his…
2Cases cited1 opinion
- Sands v. . CrookeNew York Court of Appeals · 1871
3Cited by16 opinions
- Sheffield Furnace Co. v. Hull Coal & Coke Co.Supreme Court of Alabama · 1893
- L'Amoreux v. . GouldNew York Court of Appeals · 1852
- Miller v. . McKenzieNew York Court of Appeals · 1884
- Andrews v. Day Button Co.New York Court of Appeals · 1892
- Bisbing v. Sterling Precision Corp.Appellate Division of the Supreme Court of the State of New York · 1970
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