(Download) "Drake-Jones Company v. A. P. Drogseth" by Supreme Court of Minnesota * Book PDF Kindle ePub Free
eBook details
- Title: Drake-Jones Company v. A. P. Drogseth
- Author : Supreme Court of Minnesota
- Release Date : January 03, 1933
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 63 KB
Description
Broker -- purchase of stock. Action by a brokerage concern to recover from its customer for losses sustained by it because of nonacceptance of and nonpayment
for stock purchased. On September 30, 1929, defendant gave plaintiff an order to purchase on his account 50 shares of certain
stock at $55.75 per share on the Minneapolis-St. Paul stock exchange. On that day plaintiff purchased the stock on that exchange
at the agreed price; the stock so purchased was in "street name." Defendant contended that his instructions to plaintiff were
that the stock should be issued in his name and that it should be delivered to him at once. No delivery of the stock was tendered
defendant until November 8 (38 days after the purchase was made). Defendant refused to accept it. Other tenders were made
and refused. No tender of stock in defendant's name was ever made. Over one year and a half after the purchase plaintiff sold
the stock at $19.50 per share. The difference between the purchase price and the sale price is the amount sued for. Defendant
had a verdict. Held:
 "Drake-Jones Company v. A. P. Drogseth" by Supreme Court of Minnesota * Book PDF Kindle ePub Free){kind=link}