Donald Friedman & Co. v. Newman

The plaintiff corporation is a dealer in bank and insurance company stock. As the result of negotiations conducted over the telephone, it agreed to sell to the defendant ten shares of Chase National Bank. Then, in accordance with the usual custom in its business, it prepared a paper known as a “ Confirmation of Sale.” The “ confirmation ” was written on the business stationery of the plaintiff, signed by the plaintiff, addressed to the defendant, and thereafter signed by the defendant. At the top appears the word “ Confirmation,” and it reads as follows:

“ We beg to confirm our Sale to you…