Denis v. Nu-Way Puncture Cure Co.
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Brown county: Henry Graass, Circuit Judge. Action by a stockholder to recover the purchase price of corporate stock purchased from the defendant corporation, upon rescission of the contract of purchase because of fraud and deceit.
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Appeal from a judgment of the circuit court for Brown county: Henry Graass, Circuit Judge. Action by a stockholder to recover the purchase price of corporate stock purchased from the defendant corporation, upon rescission of the contract of purchase because of fraud and deceit. The Nu-Way Puncture Cure Company is a corporation organized under the laws of the state of Wisconsin, with an authorized capital stock of $20,000. It was the owner of an alleged secret formula for a preparation which it was claimed would immediately heal or cure all punctures in automobile tires when placed in the…
1Opinion of the CourtOwen, J.
This is an action to recover the purchase money upon the rescission of a contract for the purchase of capital stock in the defendant company, it being claimed that the purchase was induced by false and fraudulent representations on the part of the company. The court directed a verdict in favor of the defendant upon the ground that the plaintiff had not rescinded nor offered to rescind, and that his transactions with Moore, the president of the company, amounted to a resale of the stock and were inconsistent with a rescission of the contract of purchase. The question of whether a case of fraud…
2Cases cited3 opinions
- Krause v. BusackerWisconsin Supreme Court · 1900
- First National Bank of Tigerton v. HackettWisconsin Supreme Court · 1914
- Heckendorn v. RomadkaWisconsin Supreme Court · 1909
3Cited by4 opinions
- Morse Chain Co. v. T. W. Meiklejohn, Inc.Wisconsin Supreme Court · 1941
- Hahn v. Petters & Co.Wisconsin Supreme Court · 1926
- Restlawn Memorial Park Asso. v. SolieWisconsin Supreme Court · 1939
- Mueller v. MichelsWisconsin Supreme Court · 1924