Reports of Cases Argued and Determined in the Supreme Court of the State of Kansas Volume 92

Reports of Cases Argued and Determined in the Supreme Court of the State of Kansas Volume 92

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...law. Referring to a supposed difference between the case of one engaged in a stock speculation and the case of an absolute owner of stock wrongfully sold by the pledgee, it was said in the opinion: "But in both cases the qualification attaches that the loss shall only be such as a proper degree of prudence on the part of the complainant would not have averted, and a proper degree of prudence on the part of the complainant consists in repurchasing the stock after notice of its sale, and within a reasonable time. If the stock then sells for less than the defendant sold it for, of course the complainant has not been injured, for the difference in the two prices inures to his benefit. If it sells for more, that difference the defendant should pay." (p. 247.) In the opinion it is also said: "But to presume, in favor of an investor, that he would have held his stock during all of a period of possible depression, and would have realized upon it when it reached the highest figure, is to indulge in a presumption which, it is safe to say, would not be based on fact once in a hundred times." (p. 248.) To the same effect is Gruman 11. Smith, 81 N. Y_. 25; Colt v. Owens et al., 90 N. Y. 368, Where it was held to be the duty of the plaintiff to repurchase the stock within a reasonable time.. The evidence shows and the jury found that if plaintiff's deal had been carried on he could have exercised the option to close it at the market quotation any time during July, and that on July 30 July corn opened on the Chicago Board of Trade at sixty-three cents. Upon the theory that if his purchase had not been closed out he would have carried it until the last day of July and realized the difference between the price at which he was...show more

Product details

  • Paperback | 416 pages
  • 189 x 246 x 22mm | 739g
  • Rarebooksclub.com
  • English
  • Illustrations, black and white
  • 1236812115
  • 9781236812117