Citizens Nat. Bank v. Allen

In November, 1929, the appellee purchased from the appellant a negotiable bond issued by the Central Securities Company of Asheville, N. C., promising to pay to the bearer the sum of one thousand dollars on March 1, 1939, serial coupons for the interest thereon being attached thereto.

In December, 1930, the Central Securities Company was placed in the hands of a receiver, and the evidence discloses, or rather the jury was authorized in believing therefrom, that its bonds then were, and now are, worthless.

After discovering this fact, the appellee sued the appellant for damages sustained by her…