Wilson v. Guaranteed Securities Co.

This case involves the right to rescind a contract and recover back the consideration paid for capital stock of an investment company which in the sale of its capital stock had not complied with the Blue Sky Law.

In February, 1923, the plaintiffs loaned to Ferrin and his wife $2,000 on their promissory note due in three years, which was secured by their mortgage on real property alleged to be of the value of $3,500. The defendant Guaranteed Securities Company, on and prior to November, 1924, was an investment company engaged in selling and offering for sale its unissued capital stock and…