Baylor v. Jordan

The plaintiff, Richard Baylor, appeals from a summary judgment in favor of Thomas W. Jordan, William M. Richardson, and First Montgomery Bank. The gist of Baylor's complaint was that the defendants fraudulently induced him to sell certain securities for less than their fair market value.

Baylor and Jordan were close personal friends who engaged in various business ventures together for about ten years prior to the events complained of. They had formed a corporation, Furniture Town, Inc., which was engaged in the business of selling furniture on credit. Baylor and Jordan each owned fifty…