Baltzen v. . Nicolay
New York Court of Appeals
Appeal from judgment of the General Term of the Superior Court of the city of ¡New York, affirming a judgment in favor of plaintiffs, entered upon the report of a referee. This action is brought to recover damages for an alleged breach of a contract for the sale of 500 shares of the Brooklyn City Railroad Company’s stock.
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Appeal from judgment of the General Term of the Superior Court of the city of ¡New York, affirming a judgment in favor of plaintiffs, entered upon the report of a referee. This action is brought to recover damages for an alleged breach of a contract for the sale of 500 shares of the Brooklyn City Railroad Company’s stock. The complaint alleged, in substance, that on 11th ¡November, 1869, the defendant, as auctioneer, duly sold at public auction, to Egleston & Smith, 500 shares of the Brooklyn City Railroad Company’s stock at the price of 186 per cent per share for 200 shares, and 187-J per…
1Opinion of the CourtAndrews, J.
There are but two theories upon which the plaintiffs can claim to recover in this action. The one is that the defendant, acting as agent for Belmont & Co. in selling the stock, exceeded his authority by selling it below the price limited by .them for the sale. The other is that the defendant did not at the time of the sale disclose his principals, and thereby became bound as principal upon the contract made. When an agent makes a contract beyond his authority, by which the principal is not bound, by reason of the fact that it was unauthorized, the agent is liable in damages to the person…
2Cases cited2 opinions
- White v. . MadisonNew York Court of Appeals · 1862
- Mills v. HuntNew York Supreme Court · 1838
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