Sarah M. Harris, Respondent v. William Tumbridge, Appellant

Summary

The New York Court of Appeals affirmed the judgment of the General Term, holding that the broker acted without authority in making a short sale of stock underlying a straddle contract, breached his duty of reasonable care, and was liable for the plaintiff’s losses. The court also affirmed the trial court’s power to amend the complaint to reflect the contract and rejected the defendant’s argument that the transaction was a prohibited wager.