Buehl v. Dayson

PRESIDING JUSTICE WELCH

delivered the opinion of the court:

Section 13(A) of the Illinois Securities Law of 1953 (Ill. Rev. Stat. 1983, ch. 1211/2, par. 137.13(A)) allows a purchaser of securities to rescind any sale made in violation of that law. Notice of the election to rescind must be given to each person from whom recovery will be sought “within 6 months after the purchaser shall have knowledge that the sale of securities to him is voidable.” (Ill. Rev. Stat. 1983, ch. 1211/2, par. 137.13(B).) This action was commenced in the circuit court of Crawford County to rescind the purchase of…