(Download) "Cervantes v. Great American Insurance Co." by Fourth Appellate District, Division Two Court of Appeal of California ~ eBook PDF Kindle ePub Free
eBook details
- Title: Cervantes v. Great American Insurance Co.
- Author : Fourth Appellate District, Division Two Court of Appeal of California
- Release Date : January 14, 1983
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 75 KB
Description
Plaintiff brought suit against Bear, Stearns & Co., a national stock brokerage firm, for conversion of 883 shares of General Motors stock. Plaintiff had been a customer of another brokerage firm, now defunct, the San Francisco Investment Corporation (hereafter SFIC), a small firm that was not a member of a stock exchange. In order to execute stock purchases or sales for its customers, SFIC entered into "clearing" relationships with Bear, Stearns and other large brokerage houses. In return for services rendered, SFIC paid a portion of its commissions to the transacting brokerage firm.