Edward v. Ioor
Michigan Supreme Court
Error to Kent; McDonald, J. Assumpsit by William S. Edward against Walter loor and others for money paid on an illegal sale of stock. Judgment for defendants on a directed verdict. Plaintiff brings error. Plaintiff is a resident of Sault Ste. Marie and defendants have a common office in the city of Grand Rapids. Defendant United Vending Company is. a corporation organized under the laws of the State of Arizona.
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Error to Kent; McDonald, J. Assumpsit by William S. Edward against Walter loor and others for money paid on an illegal sale of stock. Judgment for defendants on a directed verdict. Plaintiff brings error. Plaintiff is a resident of Sault Ste. Marie and defendants have a common office in the city of Grand Rapids. Defendant United Vending Company is. a corporation organized under the laws of the State of Arizona. It had been authorized to sell its stock in this State by the Michigan securities commission pursuant to the provisions of Act No. 46, Pub. Acts 1915 (3 Comp. Laws 1915, § 11945 et…
1Opinion of the CourtFellows, J.
(after stating the facts). In disposing of the case the following questions will be considered;(1) Is a foreign corporation required to comply with both the foreign corporation act and the commission act before offering its stock for sale in this State?(2) Did the sale to plaintiff by the defendant loor of the 27 shares of stock in the Illinois Piano Company offend the commission act?(3) Did the exchange of the Arizona Piano Company stock for the stock of the other companies constitute a sale within the meaning of the commission act?(4) If so, may the plaintiff rescind the sale and recover…
2Cases cited9 opinions
- Merrick Et Al. v. N. W. Halsey & Company Et Al., and the Weis Fibre Container CorporationSupreme Court of the United States · 1916
- Cashin v. PliterMichigan Supreme Court · 1912
- Shattuck v. WatsonMichigan Supreme Court · 1910
- Western Massachusetts Insurance v. RikerMichigan Supreme Court · 1862
- Ferle v. City of LansingMichigan Supreme Court · 1915
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- R. A. Haberman, Jr., Independent of the Estate of Elizabeth H. Gravis, Deceased v. The Equitable Life Assurance Society of the United StatesCourt of Appeals for the Fifth Circuit · 1955
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