Brewster v. Van Liew

Citations

• 119 Ill. 554
• 8 N.E. 842

Syllabus

<p>1. Measure of damages—for breach of contract by broker to hold stocks for his customer. Where a broker purchases stocks for a customer, to be held subject to the order of the latter, and the broker, in disregard of the agreement, and without the consent of the customer, converts the stocks to his own use, the measure of damages in an action for the breach of the contract is, not the amount of money which may have been paid upon the contract by the customer, with interest, but the market value of the stocks. Such a case, in this regard, is to be distinguished from Larrabee v. Badger, 45 Ill. 441.</p> <p>2. Same—of the form of action, as affecting the question of damages. Nor does it matter, in respect of the rule of damages in such case, whether the action be for the conversion, or, in form, in assumpsit. In civil actions the law awards to the party injured a just indemnity for the wrong which has been done him, and no more, whether the action be in contract or tort.</p>