Barrett, Fitch, North & Co. v. Hudson

BROADDUS, Special Commissioner.

This is a suit in equity to rescind the sale of corporate stock and to compel a return of the purchase price. Judgment was for defendants and plaintiff appealed.

In 1956, Dr. R. Lofton Hudson and his wife, Jessie L. Hudson, defendants-respondents, purchased 100 shares of capital stock in the American Founders Life Insurance Company for $6 per share. A certificate representing said shares was issued to them *945bearing the date of December 11, 1956, and these shares were owned by them until on or about August 31, 1961, when they were sold to Barrett, Fitch, North &…