Pifath v. National City Bank

Action to recover damages for the alleged conversion of certain shares of stock deposited by plaintiffs as collateral security for the payment of promissory notes. Plaintiffs recovered judgment. This court reversed and ordered a new trial because plaintiffs were permitted to recover upon a cause of action not pleaded, namely, waiver by the defendant of its right to sell the collateral under the terms of written agreements between the plaintiffs and defendant. (Pifath v. National City Bank of N. Y., 256 App. Div. 1006.) Plaintiffs then moved at Special Term to amend their reply to .allege…