QUASI-CONTRACTS - MEASURE OF RECOVERY ON INFANT'S DISAFFIRMANCE

Authors

Abstract

On November 1, 1928, an infant caused to be delivered to a brokerage firm shares of stock in which he had an interest or equity of $3,342.09. The brokerage firm had been carrying a margin account with the infant which was continued until it was closed April 2, 1929, by payment to him of $70.99. While yet in his minority he rescinded the agreement with his brokers, and disaffirmed the entire transaction. In an action for the recovery of the value of his equity in the shares of stock as of November 1, 1928, minus the sum paid to him on the closing of his account, it was held that the value of his equity at the date of disaffirmance, and not at the date of the delivery of the shares to the brokerage firm, must be taken in determining the measure of damages. Joseph v. Schatzkin, 259 N. Y. 241, 181 N. E. 464 (1932).

Recommended Citation

QUASI-CONTRACTS - MEASURE OF RECOVERY ON INFANT'S DISAFFIRMANCE, 31 Mich. L. Rev. 436 (1933).
Available at: https://repository.law.umich.edu/mlr/vol31/iss3/21