Casanas v. Audubon Hotel Co.
Supreme Court of Louisiana
Appeal from Civil District Court, Parish of Orleans; George H. Théard, Judge. ■ Action by B. C. Casanas and others against the Audubon Hotel Company, Limited, and others. Judgment for defendants, and plaintiffs appeal.
1Opinion of the CourtBreaux, C. J.
The purpose of plaintiff in instituting this suit was to obtain a judgment setting aside a sale of shares made to Anthony Fabacher by the defendant company.
In order to be able to buy these shares, he (Fabacher) borrowed $25,000 from Mr. Fair-fax, a broker. Plaintiffs allege that it was a loan by the Cobimercial-Germania Trust & Savings Bank, through their agent, Mr. Fairfax.. Fabacher afterward transferred the shares he bought from the Audubon Hotel Company to this bank as security for the amount which he had borrowed from Fairfax, agent.
They offered to return the shares on receiving the…
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