Speculation on the Stock and Produce Exchanges of the United States

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Columbia University, 1896 - 230 páginas

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Página 479 - Whoever contracts to have or give to himself or another the option to sell or buy, at a future time, any grain, or other commodity, stock of any railroad or other company, or...
Página 337 - This contract is made in view of, and in all respects subject to, the By-Laws .and Rules established by the New York Produce Exchange in...
Página 479 - In the county jail not exceeding one year, or both ; and all contracts made In violation of this section shall be considered gambling contracts, and shall be void.
Página 479 - All contracts for the sale of shares of the capital stock of any corporation or association, on margin or to be delivered at a future day, shall be void, and any money paid on such contracts may be recovered by the party paying it by suit in any Court of competent jurisdiction.
Página 308 - Said corporation may constitute and appoint Committees of Reference and Arbitration, and Committees of Appeals, who shall be governed by such rules and regulations as may be prescribed in the Rules, Regulations, or By-Laws for the settlement of such matters of difference as may be voluntarily submitted for arbitration...
Página 480 - Benjamin, that a contract for the sale of goods to be delivered at a future day is valid, even though the seller has not the goods nor any other means of getting them than to go into the market and buy them...
Página 483 - If, however, at the time of entering into a contract for a sale of personal property for future delivery it be contemplated by both parties that at the time fixed for delivery the purchaser shall merely receive or pay the difference between the contract and the market price, the transaction is a wager, and nothing more.
Página 308 - SEC. 8. When any submission shall have been made in writing, and a final award shall have been rendered, and no appeal taken within the time flxed by the Rules or By-Laws, then, on filing such award and submission with the Clerk of the Circuit Court, an execution may issue upon such award as if it were a judgment rendered in the Circuit Court, and such award shall thenceforth have the force and effect of such a judgment, and shall be entered upon the judgment docket of said court.
Página 482 - It is well settled that contracts for future delivery of merchandise or tangible property are not void, whether such property is in existence in the hands of the seller, or to be subsequently acquired.
Página 382 - Gambling is a transaction in which one party pays over a sum of money from his own wealth because of the occurrence of a chance event. Speculation is a transaction in which one acquires by purchase the right to a certain property (not specifically designated perhaps), and gains (or loses) for himself the difference between the value of the property at the time of the sale and its value at the time of purchase. The difference is a significant one. In gambling one party must lose just what the other...

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