Court of Appeals of New York
372 N.E.2d 291 (1977)
Mark Rothko was a famous painter. Rothko’s estate included hundreds of extremely valuable paintings. Bernard Reis, Theodoros Stamos, and Morton Levine (“the executors”) were appointed executors of Rothko’s estate. The executors quickly sold all of the paintings to Marlborough A.G. (“MAG”) and Marlborough Gallery, Inc. (“MNY”) (together, “Marlborough”) for less than their actual value. The contract with MNY also allowed MNY to receive a very large commission on any painting it sold. Reis was a director, secretary, and treasurer of MNY. Stamos was an artist under contract with Marlborough, which purchased one of Stamos’s paintings during contract negotiations with the estate. Rothko’s children, Kate and Christopher Rothko (plaintiffs), brought suit against the executors and Marlborough (defendants). The lower court held the executors and Marlborough liable and voided the sale contracts. The court also imposed appreciation damages against Reis, Stamos, MAG, and MNY equal to the difference between the sale price of the paintings and the actual appreciated value of the paintings as of the time of the trial. The executors and Marlborough appealed.
Rule of Law
Holding and Reasoning (Cooke, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 202,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.