Texas Industrial Trust, Inc. v. Lusk

POPE, Justice.

Plaintiff, Myrtle M. Lusk, an aged widow, sued to rescind two deeds to property, which she gave Texas Industrial Trust, Inc., in exchange for what proved to be worthless corporate stock. She tendered back all the stock. A jury found that defendant, acting through its president, on August 18, 1954, fraudulently represented to plaintiff she could get $1 per share for her stock after January 1, 1955; that defendant corporation would pay dividends after January 1, 1955, and that plaintiff, after January 1, 1955, could secure money on her stock when she needed it. The court gave…