Henning v. Anderson

In the early part of the year 1921, one J. C. Steward was the president and manager of a corporation known as the Steward Food Products Company. The appellant G. J. Anderson was a stockholder in the corporation, holding shares of the par value of $500, which was the community property of himself and his wife. In February of the year named, Steward represented to Anderson, and to others of the stockholders in the corporation, that the corporation had many orders for its products which it could not fill for want of ready money, and that it was necessary to raise money for that purpose.…