Pearson v. Kurtz

Citations

• 280 Pa. 34
• 124 A. 272
• 1924 Pa. LEXIS 460

Syllabus

<p>Brokers — Stock brokers — Principal and agent — Collateral — Pledge — Sale—N otice — Contract.</p> <p>1. Authority to a holder of collateral security to loan or pledge it, does not justify him in selling it without notice to the owner.</p> <p>2. A holder of collateral security does not acquire a right to sell it without notice, merely by stating, on accounts current sent to the owner, that it is understood and agreed he had that right.</p> <p>3. A contract complete in itself cannot be altered without another meeting of the minds, and a new consideration.</p>