Newburger-Morris Co. v. . Talcott
New York Court of Appeals
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May 15, 1916, which modified and affirmed as modified an interlocutory judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term.
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Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May 15, 1916, which modified and affirmed as modified an interlocutory judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The following questions were certified: “1. Is the defendant, under the contract plaintiff’s Exhibit 1, entitled to charge interest compounded monthly at the rate of 6 per cent on all monthly debit balances due from the plaintiff to the defendant, “2. Did the accounts current, plaintiff’s Exhibit'22,…
1Opinion of the CourtCardozo, J.
The action is one for' an accounting by a principal against a factor. The plaintiff agreed to consign to the defendant its goods then owned and also all goods acquired during the term of the agreement. The defendant was to sell them, and was to collect the accounts. He agreed to make advances on demand up to 50 per cent of the net cost of the merchandise and 75 per cent of the net value of outstanding accounts. He was to receive for his services “ 9% per cent commission on the first $100,000 of sales” and 5 per cent on all sales above that amount. Interest was to be “ charged on the account…
2Cases cited12 opinions
- Young v. . HillNew York Court of Appeals · 1876
- Volkening v. . DegraafNew York Court of Appeals · 1880
- Spellman v. . MuehlfeldNew York Court of Appeals · 1901
- Knickerbocker v. . GouldNew York Court of Appeals · 1889
- Gihon v. . StantonNew York Court of Appeals · 1854
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3Cited by77 opinions
- R. H. Stearns Co. v. United StatesSupreme Court of the United States · 1934
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- Lewis J. Ruskin, Collateral Trustee v. Charles H. Griffiths, Trustee in ReorganizationCourt of Appeals for the Second Circuit · 1959
- Giventer v. ArnowNew York Court of Appeals · 1975
- Manhattan Motorcars, Inc. v. Automobili LamborghiniDistrict Court, S.D. New York · 2007
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