Kahn v. Harris

This is an appeal by Dr. Jack Kahn from a judgment in favor of Harris, Upham & Co., in the sum of $11,577.50. Harris, Upham & Co., is a copartnership engaged in the brokerage business. It is a member of the New York Stock Exchange and a member of the New Orleans Cotton Exchange. It is also a duly licensed and registered broker under the laws of the State of Texas. Charles I. McLean is one of the partners, and is in charge of the Houston office. Dr. Jack Kahn is a resident of Victoria, Texas. Jim Allen is an employee of Harris, Upham & Co., and is stationed at Victoria, Texas. The judgment is based upon losses alleged to have been sustained by appellee, Harris, Upham & Co., in handling seven cotton contracts for appellant, Kahn, on the New Orleans Cotton Exchange, together with its commissions for its services. A cotton contract is 100 bales or 50,000 pounds of cotton. Appellants defense, plead and urged at the trial, was that he did not authorize appellee to purchase or sell these contracts for him. Three of these contracts were purchased on October 15, 1946, and four on October 16, 1946. Two contracts were sold on October 17, 1946, and five upon October 21, 1946. During the trial appellants attorneys acknowledged that appellant was responsible for the first days trading and the court, by means of several special issues, submitted to the jury whether or not appellant authorized the second days trading, and the jury found that he did.