QUASI-CONTRACTS--DURESS--ECONOMIC PRESSURE-ADEQUACY OF LEGAL REMEDIES

Authors

Abstract

The plaintiff deposited funds with the defendant, a stock-broker, as security for his margin account. The defendant without authority sold short on the plaintiff's account a large number of shares of stock and threatened to use the plaintiff's deposits to cover the sale unless the plaintiff would authorize a purchase for that purpose. The plaintiff under protest authorized the defendant to purchase the stock, which in the meanwhile had increased in value. The plaintiff then brought suit to recover the difference between the sale and the re-purchase prices plus the defendant's commissions and transfer taxes. Held, on demurrer that the plaintiff had made a voluntary payment with full knowledge of all the facts. Furman v. Lanahan (Md. 1930) 149 Atl. 465.

Recommended Citation

QUASI-CONTRACTS--DURESS--ECONOMIC PRESSURE-ADEQUACY OF LEGAL REMEDIES, 29 Mich. L. Rev. 260 (1930).
Available at: https://repository.law.umich.edu/mlr/vol29/iss2/30