Sweeney v. Rogers
New York Court of Common Pleas
Appeal from a judgment of the general term of the Marine Court of the City of Hew York affirming a-judgment-of that court entered upon a verdict of a jury. The action was brought upon a promissory note made .by the defendant William P. Rogers, to the order of the defendant James F. Rogers, and indorsed and delivered by the latter to the plaintiffs.
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Appeal from a judgment of the general term of the Marine Court of the City of Hew York affirming a-judgment-of that court entered upon a verdict of a jury. The action was brought upon a promissory note made .by the defendant William P. Rogers, to the order of the defendant James F. Rogers, and indorsed and delivered by the latter to the plaintiffs. The note was made without consideration, for the accommodation of James F. Rogers, and was indorsed and delivered by him to the plaintiffs as collateral security for the purchase by them for his account, of certain stock, which they were to carry…
1Opinion of the CourtVan Hoesen, J.
At the time of the delivery of the note Rogers gave to the plaintiffs an order for the purchase of one hundred shares of Wabash stock, fifty shares of which were to cover a short sale, so that the defendant James—to use the language of the brokers—went long of fifty shares. It devolved on the plaintiffs to buy one hundred shares for James, and to prove that they did so, in case they sought to hold him liable for any loss occasioned by a decline in the value of the stock. It matters not that they employed other persons to make the purchase at the stock exchange, for the quantum of evidence, or…
2Cases cited2 opinions
- Agawam Bank v. . StreverNew York Court of Appeals · 1859
- Williams v. . People's Fire Insurance Co.New York Court of Appeals · 1874
3Cited by1 opinion
- Des Jardins v. HotchkinAppellate Division of the Supreme Court of the State of New York · 1911