Loud v. Clifford

This is an action to rescind a purchase of corporate stock upon the ground that the sale was brought about by fraud on the part of the defendant corporation and the individual defendant who was the promoter, president and principal stockholder thereof. It is contended that the judgment against the individual defendant cannot be sustained.

Appellant relies upon a statement contained in the opinion in the case of Ritzwoller v. Lurie (225 N. Y. 464), which it is urged overruled by implication the decision in the case of Mack v. Latta (178 N. Y. 525).

The opinion in the Mack case was concurred in…