Dent v. Holbrook
Before: Department, McKee
Synopsis
Conversion — Stock—Measure of Damages — Retroactive Amendment.— Prior to the amendment of January 22nd, 1878, to the Civil Code, § 3336, the defendant converted certain stock of the plaintiff. Held—upon appeal from a judgment rendered subsequently to the amendment, in an action for the conversion of the stock, commenced prior to the amendment—that the plaintiff was entitled to recover the damages prescribed in the section as amended, to wit, the highest market value of the stock at any time between the conversion and the verdict.
Department No. 1, McKee, J.: An unauthorized sale by a stock-broker of certificates of shares of stock in a mining corporation on which the broker has a lien for payment of part of the purchase-money, is a conversion, for which the owner of the certificates is entitled to recover, as damages, the highest market value of the stock, at any time between the conversion and the verdict, without interest. (Code Civ. Proc. § 3336, as amended January 22nd, 1878.)
The judgment appealed from is sustainable upon this principle, except as to interest, which was allowed by the Court; in that regard it is erroneous. But the amount of the interest, as appears by the record, was $75. Subtracting that from the judgment there remains $723.50, for which the plaintiff is entitled to judgment.
Thus modified, the judgment is affirmed.
McKinstry, P. J., and Ross, J., concurred.
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