Stoerger v. Ivesdale Co-Op Grain Co.

This appeal is brought by the plaintiffs from a judgment in favor of the defendant on plaintiffs’ complaint for recovery of the face amount of certain debentures and granting defendant’s counterclaim for reformation of those debentures.

The plaintiff, Carl C. Stoerger, purchased six debentures in the total amount of $39,000 from the defendant on May 1, 1966, one for himself and five for the other plaintiffs, his brothers and sisters for whom he acted in aH dealing with the defendant.

The debentures stated that they were to pay six per cent interest payable on May 1st of each year, but the…