Armstrong v. Rachow
Michigan Supreme Court
Error to Charlevoix; Mayne, J. Casé by Robert B. Armstrong against Warren J. Rachow for fraud in the sale of corporate stock. Judgment for plaintiff. Defendant brings error. Plaintiff brings this suit to recover damages for an alleged fraud perpetrated upon him by defendant in the sale of 1,000 shares of the stock of the Canadian Puget Sound Lumber Company, Ltd., at three dollars per share.
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Error to Charlevoix; Mayne, J. Casé by Robert B. Armstrong against Warren J. Rachow for fraud in the sale of corporate stock. Judgment for plaintiff. Defendant brings error. Plaintiff brings this suit to recover damages for an alleged fraud perpetrated upon him by defendant in the sale of 1,000 shares of the stock of the Canadian Puget Sound Lumber Company, Ltd., at three dollars per share. The sale occurred on April 2, 1913. The claim of the plaintiff may be briefly summarized as follows: Plaintiff is a physician living at Charlevoix. Defendant at the time this transaction arose was cashier…
1Opinion of the CourtFellows, J.
(after stating the facts). We are not impressed that the testimony of the plaintiff makes out a case of such fiduciary relations as requires the application of the rules applicable to cases of trustee and cestui que trust to measure the duties and liabilities of the defendant. The trial court did not submit the case upon that theory. The plaintiff was the family physician of the defendant; defendant the cashier and manager of the bank where plaintiff carried his account. The testimony does not disclose that plaintiff had committed to defendant the business of .making investments for him…
2Cases cited3 opinions
- Pennsylvania Stave Company's AppealSupreme Court of Pennsylvania · 1912
- Beale v. City of BostonMassachusetts Supreme Judicial Court · 1896
- McDonald v. SmithMichigan Supreme Court · 1905
3Cited by11 opinions
- Palladine v. Imperial Valley Farm Lands Assn.California Court of Appeal · 1924
- Krum v. SheppardDistrict Court, W.D. Michigan · 1966
- Sweet v. ShreveMichigan Supreme Court · 1933
- Schreiber v. Loew's IncorporatedDistrict Court, W.D. Michigan · 1957
- Case v. GorenMichigan Court of Appeals · 1972
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