Nelson v. O'DELL

These cases involve identical facts, were tried together in circuit court, and, pursuant to> stipulation of the parties, the appeals from the judgments entered have been submitted in like manner. On or about July 13, 1948, each plaintiff purchased 500 shares of stock in the defendant corporation, Del-Lo Wood Products, Inc., paying therefor the sum of $5,000. Such payment was in each instance transmitted to and received by the corporation. It is conceded that at the time of such transactions the stock had not been licensed or qualified for sale or accepted for filing by the Michigan…