Zell v. Corkran

Citations

• 21 Del. 312
• 5 Penne. 312
• 60 A. 699
• 1905 Del. LEXIS 13

Syllabus

<p>Assumpsit — Stock Brokers — Margins — Contract — Set-off — Damages.</p> <p>1. In a suit brought by stock brokers against a customer for a sum claimed to be due from certain stock transactions ; if, under the agreement controlling the transaction, the defendant was not to be liable for any loss beyond the amount of the cash he deposited from time to time in the hands of the plaintiffs, and the plaintiffs assumed all the risks beyond such margins, the plaintiffs cannot recover.</p> <p>2. If under such agreement the stocks were to be bought and sold for the defendant, just as if the brokers were dealing for themselves and upon their recommendation and solicitation, and the defendant was not to suffer any loss in such stock transactions, the plaintiffs cannot recover.'</p> <p>3. If under such agreement the defendant had the right, at any time when his margins, coupled with the market valve of the stock held by the plaintiffs, were sufficient to save him from loss, to order the sale of the stocks then on hand ; that such a condition did exist at a certain time, and on that day the defendant ordered the plaintiffs to sell the stocks, which the plaintiffs failed to comply with, and from such failure the defendant suffered damage equal to, or in excess of, the balance claimed by the plaintiffs, they cannot recover.</p> <p>4. Measure of damages.</p>