Cochran v. F. H. Smith Co.

The Chancellor:

The defendant’s demurrer raises several grounds of objection to the bill. There is one ground that is fundamental and, if well taken, renders unnecessary the consideration of the others.

It does not seem necessary to cite authority to sustain the proposition that an action at law would lie against the defendant if it did, as charged in this bill, induce the Commonwealth Finance Corporation to purchase the various notes by representations that amounted to fraud. Deceit would be the basis of the action, and of course the remedy, if the complainant prevailed, would be a judgment…