Gressinger v. Massey Hardware Co.

The opinion of the court was delivered by

Johnston, C. J.:

This action was brought by W. J. Gressinger against the Massey Hardware Company to recover on what is designated as preferred stock, and it is claimed that it is a certificate of indebtedness merely, and that the plaintiff was in effect a creditor of the company although the certificate designates the vendee as the holder of preferred stock.

In his petition plaintiff alleged that under the facts pleaded it was the intention of the plaintiffs to give and the defendant to receive the right of a creditor. Upon a demurrer to the petition the…