Hood Ex Rel. Bank of Pender v. Paddison

The question involved: May tbe defendant, alleged owner of capital stock in a defunct State bank, in an action by tbe Commissioner of Banks to recover of the defendant the amount of his statutory liability as such stockholder, avail himself of tbe defense that he was induced to purchase said stock by the false and fraudulent representations of the condition of the bank by its president? We think, under the facts and circumstances of this case, that there was sufficient competent facts alleged by defendant on the record, to be submitted to the jury on the question involved.

The defendant, as a…