Murman v. Rose
Missouri Court of Appeals
Appeal from St. Louis Oity Circuit Court. — Hon. Robt. M. Foster, Judge. (1) A pretended sale of stocks upon margins, with no intention of either delivering or receiving the stocks, is a gambling transaction and is unlawful; and such contracts are void. R. S. 1899, secs. 2337, 2338, 2342; R. S. 1896 (111.), secs. 253, 262, 263. (2) It is not essential to render such contracts void, that both parties thereto should agree that the sale should be a fictitious one.
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Appeal from St. Louis Oity Circuit Court. — Hon. Robt. M. Foster, Judge. (1) A pretended sale of stocks upon margins, with no intention of either delivering or receiving the stocks, is a gambling transaction and is unlawful; and such contracts are void. R. S. 1899, secs. 2337, 2338, 2342; R. S. 1896 (111.), secs. 253, 262, 263. (2) It is not essential to render such contracts void, that both parties thereto should agree that the sale should be a fictitious one. It is sufficient if one of the parties so intended it to be. Connor v. Black, 119 Mo. 126; Connor y. Black, 132 Mo. 150; Brokerage…
1Opinion of the CourtGoode, J.
The purpose of this action is to recover the sum of $4,800 alleged to be due plaintiff from defendant as part of the purchase price of two hundred shares of the second-preferred stock of the St. Louis & San Francisco Railroad Company. The defense stated in the answer is that it was understood and agreed between plaintiff and defendant the shares of stock should not be purchased by 'defendant, who was acting as plaintiff’s agent in the transaction, and defendant did not purchase them; that it was agreed the purchase should merely be a pretense, with no intention on the part of plaintiff to pay…
2Cases cited3 opinions
- Connor v. BlackSupreme Court of Missouri · 1893
- A. G. Edwards Brokerage Co. v. StevensonSupreme Court of Missouri · 1901
- Connor v. BlackSupreme Court of Missouri · 1896
3Cited by1 opinion
- Guise v. StateSupreme Court of Arkansas · 1939