Currie v. . White
New York Court of Appeals
Appeal from an order of the General Term of the Superior Court of the city of Eew York, affirming a judgment of the Special Term dismissing the complaint. The plaintiffs and the defendant were stock brokers in the city of ETew York.
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Appeal from an order of the General Term of the Superior Court of the city of Eew York, affirming a judgment of the Special Term dismissing the complaint. The plaintiffs and the defendant were stock brokers in the city of ETew York. Upon the 18th day of February, 1867, they entered into an agreement with each other, and executed as evidence thereof the following instruments: ¡New Yobk, 18th Feb., 1867. (1,000 shares.) We have purchased of C. G-. White one thousand (1,000) shares of the capital stock of the Hudson ¡River ¡R. ¡R., at one hundred and twenty-eight per cent, payable and…
1Dissent
Folgeb, J. (dissenting.)
The contract betwen the parties is an agreement for the sale of shares of stock, the shares to be delivered in the future, and the purchase-price then to be paid with interest. This contract was executory. (Kelley v. Upton, 5 Duer, 336.) But by virtue of it the vendor became a trustee, sub modo, of the shares, for the vendees, and they became the eestmis que trust, sub modo, thereof. (Hill on Trustees, 259, 170, 171.) The rigid letter of the contract might perhaps be met by a delivery of 1,000 shares of capital stock, however changed in their proportion to the whole…
2Cases cited3 opinions
- Kelley v. UptonThe Superior Court of New York City · 1856
- Moore v. Hudson River RailroadNew York Supreme Court · 1851
- Faulkner v. HebardSupreme Court of Vermont · 1854