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BUDER v. NEW YORK TRUST CO.

No. 259.

82 F.2d 168 (1936)

BUDER v. NEW YORK TRUST CO.

Circuit Court of Appeals, Second Circuit.

March 2, 1936.

Attorney(s) appearing for the Case

White & Case, of New York City (David Paine and Orison S. Marden, both of New York City, of counsel), for appellant.

Edwards, Breckinridge & Noble, of New York City (W. H. L. Edwards, Richard S. Holmes, and J. Walter Edwards, all of New York City, of counsel), for appellee.

Before L. HAND, SWAN, and CHASE, Circuit Judges.

SWAN, Circuit Judge.

In its main aspects this litigation is an action for damages for the alleged conversion of shares of corporate stock pledged with the defendant as collateral for a loan made to the plaintiff. The stock was disposed of under an option given by the pledgee to a stockbrokerage firm under circumstances which the pledgee contends made this the fairest and best method of selling. But the defendant was not permitted to prove that disposal of the shares...

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