Murray v. Lardner
Supreme Court of the United States
Laiidner was the owner of three bonds of the Camden and Amboy Railroad Company, for .$1000 each. They were coupon bonds of the ordinary kind, and payable to bearer. He resided in the country, about nine miles from Philadelphia, but had an office in that city, where he went to transact business .two dgys in the week, Wednesdays and Saturdays. He kept the bonds in a fire-proof in this office.
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Laiidner was the owner of three bonds of the Camden and Amboy Railroad Company, for .$1000 each. They were coupon bonds of the ordinary kind, and payable to bearer. He resided in the country, about nine miles from Philadelphia, but had an office in that city, where he went to transact business .two dgys in the week, Wednesdays and Saturdays. He kept the bonds in a fire-proof in this office. Murray was a broker of character, engaged in the negotiation of such bonds in New York. On the night of Wednesday, the 23d February, 1859, Lardner’s fire-proof was broken open, and the three bonds stolen.…
1Opinion of the Court
Mr. Justicé SWAYNE
delivered tbe opinion of tbe court.
Tbe question presented by tbe instruction, excepted to is not a new. one, either in commercial jurisprudence or in tbis court. •
Tbe general rule of tbe common law is, that, except by a sale in market overt, no one can give a better title to personal property than be bas bimself. Tbe exemption from •tbis principle of securities, transferable by delivery, -was established at an early period. It is founded upon principles of commercial policy, and is now as firmly fixed as tbe rule to which it is an exception.. It was applied by Lord Holt to a…
2Cases cited1 opinion
- Swift v. TysonSupreme Court of the United States · 1842
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- Pana v. BowlerSupreme Court of the United States · 1883
- Hamilton v. MarksSupreme Court of Missouri · 1876
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