Thompson v. National Bank of Commerce
Thompson v. National Bank of Commerce
Opinion of the Court
This action is based on a check given to plaintiff bly Houston, Fible & Co., and drawn on the defendant bank. The action was originally against the bank alone, but afterwards Houston, Fible' & Co., were, on their own motion, made parties defendant. The judgment was for plaintiff in the trial court.
By reference to the former report of the case it will be seen that plaintiff claims to have gone into defendant, Houston, Fible & Co..’s place of business and sold thirty shares of common stock of the American Ice Company for thirty-four dollars and twenty-five cents per share, receiving the check in payment, while defendants claim that they, as his brokers, merely sold the stock for him in New York through their correspondent in that city through whom they transacted business, and that in doing so the name of the American Ice Company became confused with that of the American Sureties Ice Co., and the latter stock was in the mind of the correspondent in New York, and it was the latter which they sold. That the latter stock was worth and sold for about five times the value of the former, and thereby defendants were led into the mistake of accounting to plaintiff and paying him a large sum of money to which he was not entitled.
Whatever may have been the understanding* of plaintiff, the evidence establishes beyond any doubt whatever that by misunderstanding or mistake of defendants he obtained a cheek for about five times the value of his stock and that he is’ now endeavoring to get that amount of money, and it also undoubtedly establishes that defendants, in point of fact, did not intend to buy the stock of plaintiff, but to sell it for him through their correspondent in New York. In the first place we have their version of the conversation which-took place between them and' plaintiff at the beginning, and then we have the undisputed telegrams which
If we assume that plaintiff was a man of ordinary sense he should have known that defendants sold the stock for him, and that they did not buy it from him. For he testified that he was in the defendants’ office while at least a part of this telegraphic correspondence was going on and that he saw the first telegram. He further stated that he knew the check was drawn for less than the price of the stock by four dollars and thirty-five cents. But he said that defendants explained “that three dollars and seventy-five cents was commission which they had to pay the New York Stock
But, notwithstanding what defendants may have done or understood, it is a part of plaintiff’s theory that they in terms bought the stock from him for themselves and therefore that no secret understanding of theirs could be allowed to overcome the plain terms of a contract. [Embry v. Dry Goods Co., 127 Mo. App. 383.] Granting this as a proposition of law, does it apply to the evidence in the case? We think it does not from the fact that, in our opinion, the evidence do'es not show a contract expressed in such plain words or terms as not reasonably to permit two different understandings. It was on the theory of its not being understood by defendants as now claimed by plaintiff, that they offered an instruction, which the court refused, informing the jury that in order to make a valid contract it was necessary that the minds of the parties should meet and that if one party thought he was selling to the ‘defendants, and the other thought they were selling for the plaintiff, there was no contract. We think the testimony of plaintiff, coupled with conceded facts, was sufficient to demand the giving of the instruction. Defendants'’ business was that of brokers, that is to
We do not mean to be understood as saying that brokers may not act for themselves in a given transaction, but defendants were engaged in a business which was that of acting for others. It was natural for them to understand, as they probably did understand even from the standpoint of the testimony for plaintiff in its entirety, that they were only acting as his agents. The language used as given by plaintiff and his conduct in connection therewith, did not make it unreasonable for defendants to understand they were acting as agents for him.
The judgment is reversed and the cause remanded.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.