Judgment for the defendants in case which arose in the Ist. Special District Court out of the sudden elosing of the doors of the American-Oriental "Banking Corporation was [delivered by Judge Chen Hung on October 5. The plaintiff, Mr. Frank Hotz, stated that on May 23 he delivered a Cashier Order, on the A.-O. Banking Corp., for 9,000 Registered Marks to the Deutsche-Asiatische Bank. Although this order was not handed to the German Bank until fatter closing hours, he said the bank accepted it, but returned it the next }day when the American bank closed. Accordingly, he'asked for the delivery. of the 9,000 Registered Marks, for an. order compelling the German bank to. accept the Cashier Order, and for costs, The defence, represented by Dr. F, Wilhelm, and Messrs. T. T. Loh, and P. C. Ho, asked for the action to be dismissed." Dr. A, Grossmann apeared for the plaintiff.
Delivering judgment, Judge Chen borne by plaintiff.
Fact:—Counsel for plaintiff said that Judgment ordering the defendants to [deliver 9,000 Registered Marks, to accept the Cashier Order of the Ameri /can-Oriental Banking Corporation, and to bear the costs of action is prayed for. His statement is briefy:—
"On the afternoon of May 23 1935, the plaintiff bought from the defend ants Reg. Mks, 9,000 at the agreed price of Chinese $5,027.94, and $27.94 cash and a Cashier Order of American-Oriental Banking Corporation for '$5,000 were paid to the defendants by the plaintiff at once. The defendants agreed to accept the same without any reservation, The formal receipt hand-to the piaintitt by them states that the Cashier Order received is written in the "Cash and Bank notes" column, Unexpectedly, in May the same year, the American-Oriental Banking Cor: oration closed its doors and defendants returned the Cashier Order they. had already accepted to the plaintiff land refused to deliver the RIN. 9,000. The plaintiff submits that it was on reciprocal contract for sale and purchase that the plaintiff bought. Marks from the defendants with the {Cashier Order. The contract for sale and purchase come: into existence when the parties mutually agree in the. object and its price, and the [parties both have an obligation to deliver the object, which is expressly provided for in Arts. 345 and 248 of the Civil Code. Since the plaintiff has delivered the Cashier Order to the defendants, the plaintiff has fulfilled his obligation. Of course, the defendants have to deliver the Registered Marks to the plaintiff. Moreover, the delivery of the Cashier Order to the
Text read from the printed page and cleaned; old type leaves the occasional error.