Prosser v. First National Bank
New York Court of Appeals
Action brought to recover damages sustained by plaintiff in the purchase of certain shares of stock, induced by certain false and fraudulent representations as to the financial condition of the defendant made by its president on its behalf. Appeal from an order of the general term of the superior court of Buffalo, granting a new trial to plaintiff, reversing an order of the special term of the same court, and also reversing a judgment in favor of the defendant.
1Opinion of the CourtEarl, J.
The complaint alleges the incorporation of the defendant bank, and that R. Porter Lee was duly, elected president thereof on the 10th day of January, 1882; that on or about the twenty-first day of the same January the plaintiff was solicited by the president of the bank to purchase some of the stock of the bank, and that, as an inducement thereto, the bank, through its president, stated ^ to the plaintiff that it was in a solvent and flourishing condition ; that its bad and doubtful debts did not amount in all to the sum of $50,000 and that if it should then be wound up, the stockholders…
2Cases cited44 opinions
- Baird v. . Mayor, Etc., of City of N.Y.New York Court of Appeals · 1884
- In Re the Probate of the Last Will & Testament of CottrellNew York Court of Appeals · 1884
- Cobb v. . HatfieldNew York Court of Appeals · 1871
- Shultz v. . HoaglandNew York Court of Appeals · 1881
- The Rider Life Raft Co. v. . RoachNew York Court of Appeals · 1884
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