Southern Building & Loan Ass'n v. Dinsmore

The action is for deceit in the sale to plaintiff by defendant, through its agent, of a “surplus certificate” which was represented as stock in defendant corporation of the value of $500, bearing 8 per cent, interest, and which could be cashed or surrendered to defendant at any time, plaintiff receiving the $500 with interest.

The complaint alleges plaintiff’s purchase of said certificate in reliance upon these representations which he believed to be • true, and that the same were knowingly false and willfully made by the agent for the purpose of deceiving the plaintiff; that said certificate…