Otis & Co. v. Teal

This is an action for damages for fraud. The fraud complained of consisted of alleged false representations, in reliance on which plaintiff was induced to purchase stock in an oil corporation. There was a judgment for plaintiff, and defendant brings the case here.

The complaint alleged, among other things, and the plaintiff testified, that one Raymond Sargeant, a member of the defendant partnership, represented to him that the Roger Oil Corporation owned a large acreage of oil lands in the state of Texas; that the production was 3,000 barrels per day; and that -the oil corporation owned a pipe…