103 Misc. 415 | N.Y. Sup. Ct. | 1918
The action is based on the following facts: Plaintiff entered into an agreement with the defendant Fidelity Title and Trust Company of Pittsburgh whereby the Fidelity Company was to sell and deliver certain shares of stock to the plaintiff on a future date, the sale to be contingent upon the consent of certain other stockholders. To secure performance the Fidelity Company deposited the stock with the defendant Columbia Trust Company (or its predecessor), and the plaintiff deposited his notes for the purchase price and certain bonds as collateral. To facilitate a sale of the bonds to a third party under an independent contract the bonds were subsequently, by a supplemental agreement, replaced by a receipt therefor. The relief demanded is a nullification of the agreement of sale and deposit, delivery to plaintiff of the notes and the receipt for the bonds, an injunction pendente lite against any sale or transfer of the notes and bonds, a receiver and for general relief. The action was commenced on November 20, 1917, by service of summons on the defendant Columbia Trust Company, which was at that- time in possession as depositary of the notes and the receipt for the bonds. On the following day, November 21st, the Columbia Company, upon being indemnified, delivered possession of the notes and bonds to the Fidelity Company, which
Motion denied, with costs.