Chicago Board of Trade v. Christie Grain & Stock Co.
| Chicago Board of Trade v. Christie Grain | |||||||
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| Argued April 20, 24–25, 1905 Decided May 8, 1905 | |||||||
| Full case name |
Board of Trade of the City of Chicago, Petitioner v. Christie Grain & Stock Company and C. C. Christie L. A. Kinsey Company et al., Petitioners, v. Board of Trade of the City of Chicago | ||||||
| Citations |
25 S.Ct. 637; 49 L.Ed. 1031 | ||||||
| Holding | |||||||
| The sales of grain for future delivery and the substitution of parties was upheld. | |||||||
| Court membership | |||||||
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| Case opinions | |||||||
| Majority | Holmes, joined by Fuller, Brown, White, Peckham, McKenna | ||||||
| Dissent | Harlan | ||||||
| Dissent | Brewer | ||||||
| Dissent | Day | ||||||
Chicago Board of Trade v. Christie Grain, 198 U.S. 236 (1905), was a decision by the United States Supreme Court, which upheld sales of American grain for future delivery provided for by the rules of the Chicago Board of Trade of the state of Illinois. Justice Oliver Wendell Holmes, Jr. delivered the majority opinion of the court, in which he wrote:
| “ | People will endeavor to forecast the future and to make agreements according to their prophecy. | ” |
See also
- List of United States Supreme Court cases, volume 198
- Clews v. Jamieson (1901)
Further reading
- Boyle, James E. (1920). Speculation and the Chicago Board of Trade. New York: Macmillan.
- Levy, Jonathan Ira (2006). "Contemplating Delivery: Futures Trading and the Problem of Commodity Exchange in the United States, 1875-1905". American Historical Review. 111 (2).
External links
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