Central Life Insurance v. Taylor

.Opinion op the Court by '

Judge Hannah

Reversing.

*845W. B. Taylor instituted this action in equity in the Pike Circuit Court against the Central Life Insurance Company and Tobe Wiley, seeking a rescission of his purchase of three hundred shares of the capital stock of the insurance company, for which he paid $450 in cash and executed his note to the company for $2,550.

It was alleged in the petition that Tobe Wiley was an agent of the insurance company and employed by it to sell its shares of stock; and that Wiley in an effort to induce plaintiff to purchase some of these shares, made false and…