Warren v. Merchants Investment & Loan Corp.

Julius J. Olson, Justice.

This was an action to recover the par value of 110 shares of preferred stock issued by defendant to plaintiff, based on an agreement to pay on demand the full par value thereof. Plaintiff had a verdict. Defendant’s alternative motion for judgment or a new trial was denied, and it appeals.

The evidence would justify a jury in finding that plaintiff’s stock was acquired for him by his mother between March 1, 1936, and the same date in 1939, while he was a minor. During this period, seven certificates of this type of stock were acquired by his mother, all “in trust for…