Ter Keurst v. First State Bank

On November 9, 1929, plaintiff Arthur J. Ter Keurst purchased a Continental Mortgage bond of the par value of $1,000 and an American Home Mortgage bond in like amount from the First State Bank of Holland. On the 9th of June, 1930, he purchased a $1,000 Central Securities Company bond from the bank. His dealings were with Wynand Wichers, then cashier of the bank. In April, 1931, plaintiff threatened suit against the bank, claiming that the bonds had been guaranteed and false representations made in their sale. The bank had sold a large number of other bonds of similar nature, and in order to…