Robinson v. Bell

Headnote

Title —■ action to determine title to certificate obtained by broker through false representations and placed by Ms clerk in envelope addressed to customer who had previously ordered and paid for a certificate.

Robinson v. Bell, 217 App. Div. 801 , affirmed.

Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the third judicial department, entered July 6, 1926, unanimously affirming a judgment in favor of defendant-respondent, entered upon a decision of the court at a Trial Term without a jury. The action was to recover an interim certificate entitling the holder to a bond when issued. Plaintiff had purchased from defendant’s intestate, who was a stockbroker, and died insolvent, one certificate and paid for the same though he had not received it. Thereafter intestate through fraudulent representations induced defendant-respondent to deliver to him twenty such certificates which he placed in a safe in his office. The day before the death of intestate a clerk in his office removed one of the certificates from the safe and placed it with a receipt to be signed by plaintiff in an envelope addressed to him and placed it in a box where it was

found after the death of intestate. The trial court held that plaintiff was not a purchaser for a present consideration and awarded to defendant-respondent possession of the certificate.