Timmerman v. Henry L. Doherty & Co.

This case has once been before this court (243 Mich. 344), where a directed verdict in favor of the defendant was reversed and a new trial granted. There is little dispute as to the facts. Defendant, a foreign corporation, was duly licensed as a dealer in stocks and securities in this State by the Michigan securities commission and Bultman as a salesman under it. Without revealing his agency, Bultman secured from plaintiffs 335 shares of Woodley Petroleum stock to sell for them at $10 per share, giving his individual receipt therefor. He made payment of $350 for 35 shares he had sold at $10…