Atwater v. Guernsey
254 U.S. 423 (1921)

Annotate this Case

U.S. Supreme Court

Atwater v. Guernsey, 254 U.S. 423 (1921)

Atwater v. Guernsey

No. 511

Submitted December 14, 1920

Decided January 3, 1921

254 U.S. 423

Syllabus

Petitioner advanced his son the money to buy a seat in the New York Stock Exchange and to pay the initiation fee, executing releases to the son which were filed with the Exchange in compliance with its rules, and the son paid interest on the amount advanced. The evidence showed that the advance was intended as a gift, and that the interest was paid as a moral obligation merely. Held, irrespective of the technical operation of the releases, that the petitioner had no valid claim to reimbursement against the trustee of the son's firm in bankruptcy.

266 F. 278 affirmed.

The case is stated in the opinion.

Official Supreme Court case law is only found in the print version of the United States Reports. Justia case law is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.