Learock v. Paxson

Citations

• 208 Pa. 602
• 57 A. 1097
• 1904 Pa. LEXIS 812

Syllabus

<p>Bailment — Conversion of stock — Damages—Measure of damages — Brokers.</p> <p>In an action against a firm of stockbrokers by one of their customers, to recover damages for the wrongful conversion and sale of the latter's stock, the measure of damages is the highest price for the stock between the date of the conversion and that of the trial.</p> <p>In such a case where the customer reserves his right to sell the stock pledged in the hands of his brokers upon any occasion that he might desire to do so, and the brokers sell it without notice to the customer, or authority from him, although he was ready and willing to protect it, a tender on the part of the customer is unnecessary before suit brought.</p>