McCallum v. McIsaac

The chancellor awarded a recovery upon defendant’s note of $700' given for shares of stock in the Handy Andy Community Stores of Chattanooga, Inc. He appealed and insists that the stock transaction was illegal and the note void because the agent through whom he bought the stock did not register and pay the fee as required by section 7, chapter 31, Acts 1st Ext. Ses. 1913. The defendant invokes the rule applied in Wright v. Jackson Construction Co., 138 Tenn., 145; Morton v. Imperial Realty Co., 133 Tenn., 681, and Gilley v. Harrell, 118 Tenn., 115, and insists that since the statute requires…