Caldwell v. Cole

Charles Caldwell filed a claim in the probate court of Cook county against the estate of Hugh A. Cole, deceased, setting out that Cole on March 18, 1920, sold to Caldwell twenty shares of the common capital stock of the Cole Manufacturing Company, at $200 a share; that under the Illinois Securities law of 1919, which was then in force, the sale of any securities, with certain exceptions stated in the act, was prohibited in the State of Illinois unless such sale had been approved by the Secretary of State; that the sale of such shares by Cole to Caldwell was not within the exceptions mentioned…