Southern States Fire & Casualty Ins. v. Whatley
Supreme Court of Alabama
Appeal from Birmingham Chancery Court. Heard before Hon. A. H. Benners. Bill by R. L. Whatley against the Southern States Eire & Casualty Company. Prom a decree overruling a demurrer to the bill respondent appeals.
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Appeal from Birmingham Chancery Court. Heard before Hon. A. H. Benners. Bill by R. L. Whatley against the Southern States Eire & Casualty Company. Prom a decree overruling a demurrer to the bill respondent appeals. The case made by the bill is that an agent of the respondent approached the complainant for the purpose of selling him stock in the respondent company and in order to induce complainant to purchase he represented first that the certificate which was issued to him would show on its face that the stock was $25 per • share; second that the respondent had already declared a dividend of…
1Opinion of the CourtAnderson, J.
The bill seeks to avoid the contract of subscription to stock and the cancellation of notes executed for the purchase of same, and sets up that complainant was fraudulently induced to- subscribe for said stock and execute said notes, by the false and fraudulent misrepresentation of material facts. A court of equity will entertain jurisdiction to cancel a fraudulent contract, at the instance of the injured party, notwithstanding he may sue at law upon the covenants of warranty or for deceit. — Perry v. Boyd, 126 Ala. 162, 28 South. 711, 85 Am. St. Rep. 17; Cullum v. Bank, 4 Ala. 21, 37 Am.…
2Cases cited7 opinions
- Cullum v. Branch of the Bank of AlabamaSupreme Court of Alabama · 1842
- Merritt v. EhrmanSupreme Court of Alabama · 1896
- McMahon v. McMahonSupreme Court of Alabama · 1910
- Beall & Coston v. Lehman Durr Co.Supreme Court of Alabama · 1895
- Perry v. BoydSupreme Court of Alabama · 1899
2 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- National Life Accident Ins. Co. v. PropstSupreme Court of Alabama · 1929
- Stone v. WalkerSupreme Court of Alabama · 1917
- Anders v. SandlinSupreme Court of Alabama · 1914
- Schwab v. CarterSupreme Court of Alabama · 1933
- Morgan v. GaiterSupreme Court of Alabama · 1919
9 more not listed; retrieve them via the Exa API.