Shaeffer v. Lerch

Judgment and order reversed on the law and facts and a new trial granted, with costs to the appellant to abide the event. Memorandum: The plaintiff has sued to recover money loaned to the defendant. The defense is that the money received from the plaintiff was not loaned but was in payment of the purchase price of certain shares of stock. The plaintiff in turn claims that the stock was.issued to him and his daughter as collateral security for the alleged loan. The stock certificate was placed in evidence by the plaintiff. No tax stamps were affixed. In the charge to the jury, the court stated…