American Building & Loan Ass'n v. Rainbolt

This was an action in tbe district court for Madison county by tbe defendant in error, Rainbolt, to recover money paid by bimself and bis assignors, Mary R. Rain-bolt, James H. Brown, Jobn F. Newball, and S. H. Over-bolser, as subscribers for tbe capital stock of tbe plaintiff in error, tbe American Building & Loan Association of Minneapolis, in tbe state of Minnesota, hereafter called *436tke “association.” Tbe theory upon which the cause was prosecuted to judgment in the district court is that the contracts of subscription had been rescinded by the several subscribers named, on account of the…