Marshall v. Levy

Citations

• 66 Cal. 236
• 5 P. 155
• 1884 Cal. LEXIS 743

Syllabus

<p>Guaranty—Contract to Carry Stock—Interest.—L., being indebted to a firm of stock brokers, for moneys advanced by them in stock transactions, arranged with E. & Co., that they should take up the stock, paying to the first firm the amount due it, and carry the stock for him. B. guaranteed to make good any loss E. & Co. might sustain in reselling the stock, balance to be paid with interest at one and one-quarter per cent, per month ; Held, that E. & Co. were entitled to credit for the amount of assessments levied upon the stock, and paid by them during the time they were carrying it; that the various items of the account bore legal interest from their respective dates of payment to the day when the balance of the account was ascertained, and that thereafter such balance bore interest at the rate of one and one quarter per cent, per month.</p>