Wright v. Johnston
Supreme Court of Iowa
Appeal from Polk District Court. — W. S. Ayres, Judge. Suit to recover money paid for stock in the Des Moines Stationery Company, and to cancel a note given in part payment thereof, and require defendant to return to plaintiff a certain note and mortgage hypothecated as collateral security for the payment thereof. On hearing, the petition was dismissed. The plaintiff apyieals.
1Opinion of the CourtLadd, J.
1. Corporations: wRat const!I. On April 24, 1915, plaintiff bought of defendant 30 shares of so-called preferred stock, in the Des Moines Stationery. Company, at the agreed price of $3,240, paying $50 in cash and $540 in property, . . , . , „ ,, , -, „ and giving his note for the balance of $2,050. To secure the payment of this note, he put up a $2,800 note and mortgage as collateral security. Since then, $400 has been paid on this note. Plaintiff says that, to induce him- to enter into the deal, defendant falsely represented that he'held said shares of stock issued by the company, and that…
2Cases cited11 opinions
- Warren v. KingSupreme Court of the United States · 1883
- Hamlin v. Toledo, St. L. & K. C. R.Court of Appeals for the Sixth Circuit · 1897
- Lockhart v. Van AlstyneMichigan Supreme Court · 1875
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- Beach v. WakefieldSupreme Court of Iowa · 1898
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