Lungren v. LAMONI PROVISION COMPANY

Plaintiff’s action was one at law wherein he sought to recover claimed damages in the amount of $20,000 by reason of the purchase of forty shares of common stock of the Lamoni Provision Company, Inc. In his petition plaintiff pleaded the stock transaction was entered into by reason of fraud which induced and brought about the purchase made. Later the plaintiff rescinded the contract, tendered back the stock and sued at law to recover the claimed damages. The case was tried to the court. It is maintained in this court that after the submission of the action in the trial court the nature of the…