Sharp v. Keating
Sharp v. Keating
Opinion of the Court
Plaintiff and appellant, Omer L. Sharp, is a physician, and the defendant and respondent, A. G. Keating, is a stockbroker, and also president of Big Jim
The amended complaint herein presents two causes of action, the first of which sets up the purchase agreement of December 29, 1933, for 50,000 shares of stock, the subsequent
Upon trial by the court, sitting without a jury, judgment was rendered in favor of defendant, and plaintiff appeals therefrom.
At the trial appellant contended and testified that respondent agreed to deliver the shares of stock finally agreed upon within a few days and as soon as the same could be transferred, while respondent’s testimony was that he specifically stated to appellant that the stock was not to be delivered until after a stockholders' meeting, to be held on or about July 21, 1934, and that the reason for such delay in delivery was that respondent, who was president of the corporation, did not want the stock to be available to appellant for the latter to place the same on the market, thereby reducing the market price at which the company’s stock was selling. Respondent also testified that he tendered the stock to appellant on July 23, 1934, two days after the stockholders’ meeting, and at all times thereafter was willing to deliver the stock. At the time of trial defendant also made another tender of the stock in question to plaintiff.
The trial court resolved this conflict in favor of defendant by finding that the agreement between the parties was that the stock was not to be delivered until after the stockholders ’ meeting on July 21, 1934, and by further finding that defendant tendered the stock in question to plaintiff on July 23, 1934. No citation of authority is required for the assertion that reviewing courts will not disturb a judgment where there is a conflict of evidence on material points, and where there is real and substantial evidence to support the trial court’s decision. Being of the opinion that reasonable minds, dispassionately viewing the evidence in this case, might fairly entertain a difference of opinion upon it, we must uphold the conclusion of the trial court thereon, because in passing upon
Appellant further contends that since the written instrument evidencing the transaction between the parties was silent on the question of delivery, under the law delivery must be made according to the usage and custom among brokers. However, we think the law' is that parties, as to a subject-matter concerning which known usages prevail, by implication incorporate them into their agreements, if nothing is said to the contrary. (25 Cal. Jur. 420; 6 Cal. Jur. 315; Robinson v. United States, 13 Wall. (80 U. S.) 363 [20 L. Ed. 653].) In the instant case, the court found, and there was substantial evidence to support such finding, that there was a special contract between the parties as to the time for delivery of the stock, in which case the doctrine of usage and custom was not applicable; and the understanding, contract and agreement thereon between the parties furnished the measure of respondent’s duty. (Luckehe v. First Nat. Bank of Marysville, 193 Cal. 184, 187 [223 Pac. 547].)
Plaintiff assails the action of the trial court in denying the motion for a new trial, but we are of the opinion that such order should not be disturbed on appeal, because the weight of authority seems to be that where, as in this case, such motion is based on affidavits in support thereof, opposed by counter-affidavits fully denying all the material allegations contained therein, the order denying the motion for a new trial will be affirmed on appeal. (Diller v. Northern Cal. Power Co., 162 Cal. 531 [123 Pac. 359, Ann. Cas. 1913D, • 908]; Patterson v. Keeney, 165 Cal. 465 [132 Pac. 1043, Ann. Cas. 1914D, 232].)
No other points raised by appellant require discussion. The judgment is affirmed.
York, Acting P. J., and Doran, J., concurred.
A petition for a rehearing of this cause was denied by the District Court of Appeal on May 25, 1936, and an application
Reference
- Full Case Name
- OMER L. SHARP v. A. G. KEATING
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- Published