Tevis v. Blanchard

WOOD (Fred B.), J.

Plaintiff Lansing K. Tevis recovered judgment upon a promissory note in the principal sum of $5,000 against defendants Brunner Blanchard Manufacturing Company, Inc., a corporation, as maker, and G. Arthur Blanchard as guarantor. Blanchard has appealed from the judgment and from an order denying his motion for judgment notwithstanding the verdict. He claims the note is void either as a security illegally issued or as representing an illegal advance upon the purchase of stock of the defendant corporation in the absence of a permit therefor.

The facts developed at the trial…