155 Iowa 583 | Iowa | 1912
The defendant is a partnership, and is engaged as a brokerage firm upon the Board of Trade in Chicago. It maintained a local office at Shenandoah, Iowa. The plaintiff was one of its customers, and had on deposit with it $240 to protect his deals. On the morning of July 8, 1910, plaintiff ordered the purchase of one thousand bushels of September wheat at a stated price. This order was immediately executed. Later in the day, he ordered the purchase of another thousand bushels of September wheat. In the transmission of this second order from the Shenandoah office to the Chicago office, a mistake was made, and as the result of such mistake the defendant purchased for the plaintiff ten thousand bushels of September wheat, and telegraphic confirmation of the purchase of such amount was. delivered to the plaintiff on the same day. The contents of this telegraphic confirmation were taken for granted by the plaintiff, who put the same in his pocket without reading, and did not discover the mistake until the next day. Neither did the defendant nor its agent discover that any mistake had been .made until the next day. It is the contention of the plaintiff that when he discovered the. mistake on the next day he ratified the purchase. On the other hand, it is the contention of the defendant that there was no ratification,
A principal can" adopt and ratify the unauthorized act of his agent, who in fact is assuming to act in his behalf, although not disclosing his agency to others; and when it is so ratified it is as if the principal had given an original authority to that, effect, and the ratification relates back to the time of the' act which -is ratified. He must
It is not claimed by defendant that there was any actual repudiation by plaintiff. T'he claim of the defendant is that, immediately upon discovering the error, it ■corrected the same of its own motion. If this correction had been made before plaintiff had been notified of the puchase, a different question would be presented. If the -correction when made had been reported to the plaintiff, and he had acquiesced therein, a different question would be presented. It does not appear from this record that there was any notification to the plaintiff of a correction of the mistake before the order to sell his “holdings” was received and executed. The fact that the mistake was already profitable when first discovered by both parties is a circumstance in favor of the theory of ratification by plaintiff, and a jury would be warranted in drawing ■some inference therefrom. We think there was sufficient evidence to sustain a finding of ratification' by the jury. The defendant’s motion for a directed verdict was therefore properly overruled.
■2. Change of timYEsuESenoy' II. The action was brought in the superior court ■of Shenandoah. The defendant filed a motion for a change of venue under the provisions of section 261. The motion was overruled, and complaint is made of such ruling. The defendant is in no position to complain of this ruling. The record shows it to be a partnership firm. It was sued in that capacity alone. None of its members were included as defendants.
The judgment helow must- therefore be affirmed.