Merwin v. Hamilton
The Superior Court of New York City
Appeal by plaintiffs from a judgment, at Special Term, allowing a demurrer to the complaint. The complaint alleged that the plaintiffs on etc., at etc., were partners and stock-brokers; that by usage and custom, existing at the time of the transactions hereinafter mentioned, within the state and city of New York, and well known to the defendant, stock-brokers employed to purchase stocks for other persons, make such purchases in their own names, without disclosing their…
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Appeal by plaintiffs from a judgment, at Special Term, allowing a demurrer to the complaint. The complaint alleged that the plaintiffs on etc., at etc., were partners and stock-brokers; that by usage and custom, existing at the time of the transactions hereinafter mentioned, within the state and city of New York, and well known to the defendant, stock-brokers employed to purchase stocks for other persons, make such purchases in their own names, without disclosing their principals, and are personally liable for the performance of the contracts so made, and their principals are, as between them…
1Opinion of the CourtBy the Court. Woodruff, J.
It is not necessary for us to consider the question, whether, if the purchases made by the plaintiffs for the defendant, were in truth made from persons who neither owned any stock at the time nor had authority from any person who did own stock, the defendant would be, nevertheless, liable to the plaintiffs under any obligation to indemnify them against losses sustained by them by performing what-they might deem an honorary obligation. When it becomes necessary to decide that question, the case of Ward v. Van Duzer in this court, (2 Hall, 162,) Gram v. Stebbins, (6 Paige, 124,) and Gould v.…
2Cases cited3 opinions
- Gram v. StebbinsNew York Court of Chancery · 1836
- J. & W. G. Ward v. Van DuzerThe Superior Court of New York City · 1829
- Thurman v. StevensThe Superior Court of New York City · 1853
3Cited by3 opinions
- Taylor v. KetchumThe Superior Court of New York City · 1868
- Read v. LambertNew York City Court · 1871
- Whitehouse v. MooreThe Superior Court of New York City · 1861