Gist v. Telegraph Co.

Citations

• 45 S.C. 344
• 23 S.E. 143
• 1895 S.C. LEXIS 47

Syllabus

<p>1. Nonsuit — Contract in ‘ ‘Futures’’ — Tedegraph Company — Rev. STaT., 1859, 1860. — A complaint for damages for the failure of a telegraph company to deliver a message relating to transactions in “cotton futures” in the cotton exchange in New York city, which does not allege all the facts enumerated in sec. 1859 of Rev. Stat., as necessary to render valid a contract for purchase or sale of cotton to be delivered in the future, does not state a cause of action.</p> <p>2. ConeeicT OE Laws — Courts.—A contract valid in the State where it was made and is to be enforced will not be treated as valid by the courts of another State, the laws of which declare such a contract invalid.</p> <p>3. Ibid. — The validity or invalidity of a transaction is to be determined by the laws of the forum in the absence of allegation and proof of what the lex loci contractus is.</p> <p>4. Ibid. — If contracts for the sale of “futures” are declared in this State contra bonos mores, no principles of comity will require the courts of this State to recognize such contract as valid, even though it be so held in the State in which it is to be performed.</p>