Wilcox Trux, Inc. v. Rosenberger

1 Reported in 209 N.W. 308, 211 N.W. 822. Action on two promissory notes made by the defendant to the H.E. Wilcox Motor Company, one for $1,000 dated June 17, 1914, and one for $1,500 dated September 9, 1914, each due two years after its date. These notes were given for stock of the motor company. The defense was fraud of the corporation inducing the purchase of the stock and a timely rescission by the defendant. The plaintiff denied the fraud, claimed that the rescission was not timely, and by supplemental reply pleaded a determination by the U.S. district court of Minnesota as a bar. The…