Murry, Nelson & Co. v. Ocheltree
Supreme Court of Iowa
Appeal from Lomsa District Court. Action upon a promissory note executed by defendants to tbe plaintiffs. Tbe case was tried to tbe court without a jury and judgment was rendered for defendants. Plaintiffs appeal.
1Opinion of the CourtBeck, J.
I. As a defense to the action defendants plead “ that plaintiffs were commission merchants in Chicago, 111., and doing business for defendants in the sale of grain, and that plaintiffs dealt and traded in what is known as options “on change” in Chicago in grain, by selling and buying in market, “on change,” certain grain for future delivery, when in fact no delivery was ever intended or demanded, and no grain was bought or sold, or intended to be. That the whole business was a venture and speculation on “margins,” depending for profits or losses on the fluctuations of the markets, and purely…
2Cases cited1 opinion
- Pixley v. BoyntonIllinois Supreme Court · 1875
3Cited by8 opinions
- Wall v. SchneiderWisconsin Supreme Court · 1884
- Sprague v. WarrenNebraska Supreme Court · 1889
- Tomblin v. CallenSupreme Court of Iowa · 1886
- Kenyon v. LutherNew York Supreme Court · 1888
- Earl v. HowellCity of New York Municipal Court · 1884
3 more not listed; retrieve them via the Exa API.