MUNROE v. HARRIMAN

No. 293.

85 F.2d 493 (1936)

MUNROE v. HARRIMAN et al.

Circuit Court of Appeals, Second Circuit.

August 10, 1936.


Attorney(s) appearing for the Case

Conboy, Hewitt, O'Brien & Boardman, of New York City (John Vance Hewitt and Edward F. Butler, both of New York City, of counsel), for appellants.

Miller, Owen, Otis & Bailly, of New York City (Harold H. Corbin, Edward J. Bennett, and James Carroll, all of New York City, of counsel), for appellee.

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


SWAN, Circuit Judge.

By this suit Charles A. Munroe seeks to recover possession of securities (shares of stock) which he lent to Joseph W. Harriman on June 14, 1932, to be used by the latter as he saw fit to secure personal loans. The lending of the securities was procured by fraud, which concededly gave ground for rescission of the transaction as against Harriman. The controversy is whether rescission is available against the bank, to which Harriman pledged the securities...

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