Continental Telegraph Co. v. Nelson
The Superior Court of New York City
Appeal by plaintiff from judgment entered upon verdict of jury in favor of defendant. The plaintiff, a domestic corporation, claimed that from November 28, 1877, to November 27, 1878, the defendant was its president; that on or about September 12, 1878, he, as the representative of the plaintiff, made a contract with one Middleton to lay submarine cables across the rivers and other waters between New York and Philadelphia, etc., at the price of $13,750,, in stock of the…
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Appeal by plaintiff from judgment entered upon verdict of jury in favor of defendant. The plaintiff, a domestic corporation, claimed that from November 28, 1877, to November 27, 1878, the defendant was its president; that on or about September 12, 1878, he, as the representative of the plaintiff, made a contract with one Middleton to lay submarine cables across the rivers and other waters between New York and Philadelphia, etc., at the price of $13,750,, in stock of the plaintiff at par; that 'the contract was completed and the stock delivered to Middleton ; that the contract could have been…
1Opinion of the Court
By the Court.—Sedgwick, Ch. J.
—The plaintiff has selected as a remedy of the wrong alleged by it to have been done by the defendant, an action for damages. Nothing but pecuniary compensation is claimed. It is *199claimed, that the defendant, while former president of the company entered, in behalf of the company, into a contract with Mr. Middleton, by which the latter agreed to lay certain cables, for five hundred and fifty shares of the capital stock of the company, the par value of those shares being $13;750. It is claimed that the defendant at the time knew that tiie laying of the cables was…
2Cases cited3 opinions
- Arnold v. Suffolk BankNew York Supreme Court · 1857
- Kirschmann v. LediardNew York Supreme Court · 1872
- Van Alen v. Illinois Central RailboadNew York Court of Appeals · 1866