Douglas Investment Co. v. Van Ness

McFarland, justice.

This is an appeal from the Maricopa County Superior Court wherein that court, sitting without a jury, entered judgment in favor of the plaintiff-appellee, C. E. Van Ness (Van Ness) and against the defendant-appellant, Douglas Investment Company (Douglas).

This litigation evolved from a prior transaction between the parties. Van Ness was sole owner of Arizona Title Guarantee and Trust Company (Arizona Title). On May 12, 1960, a contract was executed whereby he sold to Douglas 1,750 shares of the 2,000 total shares of stock of Arizona Title for $1,000 per share; a total of…