Hunt v. Davis
Supreme Court of Arkansas
Appeal from Johnson Circuit Court; Hugh Basham, Judge; An officer of a corporation selling his individual stock acts solely in his private capacity, and is bound only by the rules applicable to vendors of personal property.
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Appeal from Johnson Circuit Court; Hugh Basham, Judge; An officer of a corporation selling his individual stock acts solely in his private capacity, and is bound only by the rules applicable to vendors of personal property. Hence the inquiry in this case is whether there were false and fraudulent representations with reference to material matters affecting the value of the stock transferred, unaffected by appellant’s official connection with the bank. 53 N. J. L. 656; 53 D. R. A. 769. There being no fiduciary relation between an officer of a corporation selling stock owned by him and the…
1Opinion of the CourtFrauenthal, J.
This was an action instituted by R. S. Davis, the plaintiff below, to rescind a contract for the purchase and sale of certain shares of the capital stock of an incorporated bank into which it was alleged that he was induced to enter by reason of the fraud of defendant, W. R. Hunt. It was alleged in the complaint that on May 8, 1909, the defendant sold to plaintiff 124 shares of the capital stock of the Bank of Coal Hill, for which he paid to him shares of stock in an incorporated telephone company of the value of $2,050 and $125 in money; and that defendant induced him to purchase said bank…
2Cases cited8 opinions
- Kountze v. . KennedyNew York Court of Appeals · 1895
- Cooper v. SchlesingerSupreme Court of the United States · 1884
- Graham v. ThompsonSupreme Court of Arkansas · 1892
- Cole v. CassidyMassachusetts Supreme Judicial Court · 1885
- Gammill v. JohnsonSupreme Court of Arkansas · 1886
3 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Ray Dodge, Inc. v. MooreSupreme Court of Arkansas · 1972
- Titan Oil & Gas, Inc. v. ShipleySupreme Court of Arkansas · 1975
- Fausett & Co. v. BullardSupreme Court of Arkansas · 1950
- Clay v. BrandSupreme Court of Arkansas · 1963
- Jarratt v. LangstonSupreme Court of Arkansas · 1911
16 more not listed; retrieve them via the Exa API.