On Buying And Selling Securities Through a Member of a Stock Exchange
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Assuming that the customer's intention is that these two customs should apply to the order, it follows that the stock- broker's first step is to try to execute the order at the earliest possible moment in the time it is good for. If he neglects this duty, he will be liable in damages. Now, unless he carries out the terms of the order exactly the customer will not be bound, and the stockbroker will pre- sumptively be liable for want of care. For unless given dis- * Lettered (a) on page 14. F Thi...s custom is opposed to the rule that an authority is good till coun- termanded, if such a rule exists. Cf. Dickenson v. Tilwall, 1 Stark. 128, s. C. 4 Campb. 279. Mr. Dos Passos seems to be ignorant of this custom, Dos Passos, 120. T In such a case it is usually made " good till countermanded, " which is usually abbreviated, when written, to G. T. C. See ante, page 14, note *. UNIVERSITY Or THROUGH A MEMBER OF A STOCK EXCHANGE. 21 cretion * the stockbroker cannot vary f in any particular from the terms of an order, even where he benefits J the customer by so doing.
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To quickly assess the difficulty of the text, read a short excerpt:
Assuming that the customer's intention is that these two customs should apply to the order, it follows that the stock- broker's first step is to try to execute the order at the earliest possible moment in the time it is good for. If he neglects this duty, he will be liable in damages. Now, unless he carries out the terms of the order exactly the customer will not be bound, and the stockbroker will pre- sumptively be liable for want of care. For unless given dis- * Lettered (a) on page 14. F Thi...s custom is opposed to the rule that an authority is good till coun- termanded, if such a rule exists. Cf. Dickenson v. Tilwall, 1 Stark. 128, s. C. 4 Campb. 279. Mr. Dos Passos seems to be ignorant of this custom, Dos Passos, 120. T In such a case it is usually made " good till countermanded, " which is usually abbreviated, when written, to G. T. C. See ante, page 14, note *. UNIVERSITY Or THROUGH A MEMBER OF A STOCK EXCHANGE. 21 cretion * the stockbroker cannot vary f in any particular from the terms of an order, even where he benefits J the customer by so doing.
What to read after On Buying And Selling Securities Through a Member of a Stock Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Eliot Norton to read onlineMoreLess
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