Case ID: ill-app_210/html/0363-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Justice Dever", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

E. M. Bulkley et al., trading as Spencer Trask & Company, Appellants, v. Northern Trust Company, Executor, Appellee.
    Gen. No. 23,640.
    (Not to he reported in full.)
    Appeal from the Municipal Court of Chicago; the Hon. Rufus F. Robinson, Judge, presiding.
    Heard in this court at the October term, 1917.
    Affirmed.
    Opinion filed April 29, 1918.
    Statement of the Case.
    Action by E. M. Bulkley and Others, partners, trading as Spencer Trask & Company, plaintiffs, against Northern Trust- Company, as executor, etc., of E. A. Salmstein, deceased, defendant, to recover broker’s commissions on a sale of stock. From a judgment for defendant, plaintiffs appeal.
    Abstract of the Decision.
    1. Principal and agent, § 19*—revocation of agency by death of principal. A standing order given by a customer to a broker, effective until executed, to sell a certain number of shares of a certain stock at a specified price is revoked by the customer’s death.
    2. Principal' and agent, § 19*—when rule as to revocation of agency by death of principal not applicable. The rule that the principal’s death revokes all agencies created by him is subject to some exceptions, particularly where the agency is coupled with an interest.
    3. Pbincipal and .agent, § 19
      
      —changeability of third persons with knowledge of revocation of agency by death of principal. While the general rule of law protects third persons who have dealt with an agent, the law nevertheless charges such persons with knowledge of the fact that the agent’s authority is revoked by the principal’s death.
    Holt, Cutting & Sidley, for appellants.
    Huttmann, Cloyes & Carr, for appellee.
    
      
      See Illinois Notes Digest, Vols. XI to XV, and Cumulative Quarterly, same topic and section number.
    
   Mr. Justice Dever

delivered the opinion of the court.