Logan v. Panuska

KELLY, Justice.

These cases both arise out of the same set of facts and raise the issue of whether or not equitable estoppel is a defense in an action for rescission of the sale of securities sold in violation of Minn.St.1971, c. 80, the Minnesota Blue Sky Law.1 We conclude *361that equitable estoppel is a defense and accordingly we reverse Logan v. Panuska and affirm Krueger v. Panuska.

Bradford’s Inc. operated a restaurant and on-sale liquor facility known as Bradford’s. The corporation was originally owned by Charles Howard and defendant Harold Pa-nuska. The shares which evidenced their…