Brown v. Union Banking Co.

I agree with Mr. Justice Edward M. Sharpe that plaintiff has failed to prove actionable fraud in the purchase of June, 1930, because he did not rely upon the representations made but upon the contract for repurchase.

The testimony shows at least apparent authority in the teller of the bank to make the sale of September, 1929, with agreement to repurchase. The bank held a considerable number of bonds of the same issue. Other sales were made and the bonds repurchased by the bank, among them sales to the presi dent and to a director of the bank. The president had full charge of the bond register.…