Fly & McFall v. Watts

The facts in this case are quite bizarre!

In May, 1939, Scott Watts, a retail grocer of Spring-dale, Arkansas, purchased 100 shares of stock in Anaconda Copper Company (hereinafter called Anaconda) from the Little Rock firm of W. J. Herring & Co., Inc., (hereinafter called Herring & Co.). W. J. Herring was the manager or “head” of the company, and is referred to herein as Herring. All dealings of Watts with Herring & Co. were with W. J. Herring, except when otherwise specifically mentioned herein. Herring & Co. had its office in Little Rock, and had been in the business of stocks and bonds for…