SADIF S. A. v. BURNHAM & CO.


40 Misc.2d 702 (1963)

Sadif S. A., Plaintiff, v. Burnham and Company et al., Defendants. Cowen & Co., Third-Party Plaintiff, v. Venture Options, Inc., et al., Third-Party Defendants.

Supreme Court, Special Term, New York County.

October 10, 1963


Attorney(s) appearing for the Case

Proskauer Rose Goetz & Mendelsohn (Jacob Imberman and Michael A. Bamberger of counsel), for Cowen & Co., defendant. Goldstein, Judd & Gurfein (Murray I. Gurfein, Edward Brodsky, Donald J. Bezahler and Charles H. Kellert of counsel), for Venture Options, Inc., and another, third-party defendants. Marshall Bratter Greene Allison & Tucker for Burnham and Company, defendant. White & Case (David Hartfield, Jr., Morton Moskin, Chas. C. Humpstone and Thomas A. Butler of counsel), for plaintiff.


ARTHUR G. KLEIN, J.

Plaintiff, the bearer of 190 "put" option contracts, relating to 19,000 shares of E. L. Bruce Co. stock and indorsed by defendants, alleges in its complaint that the defendants, members of the New York Stock Exchange, have breached their obligation as indorsers under the contracts by refusing to accept same when they were presented and tendered to them.

In their answer, defendants...

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