Rhoades v. Banking, Trust & Mortgage Co.
Supreme Court of Virginia
Appeal from a decree of the Corporation Court of city of Petersburg. Decree for defendants. Plaintiffs appeal. This suit in equity by appellants, who were subscribers to certain shares of the capital stock of the banking, trust and mortgage company (hereinafter called company), against appellees, has for its. object the cancellation of appellants’ stock subscription contracts, and the recovery back of such payments as were made, thereon, upon the ground that such contracts…
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Appeal from a decree of the Corporation Court of city of Petersburg. Decree for defendants. Plaintiffs appeal. This suit in equity by appellants, who were subscribers to certain shares of the capital stock of the banking, trust and mortgage company (hereinafter called company), against appellees, has for its. object the cancellation of appellants’ stock subscription contracts, and the recovery back of such payments as were made, thereon, upon the ground that such contracts were obtained by a fraudulent misrepresentation. According to the testimony for the company, among the -objects and…
1Opinion of the Court
Sims, J.,
after making the foregoing statement, delivered the following opinion of the court.
[1] 1. There is no controversy before us asf to the law of the case in so far as the primary question is concerned as to what misrepresentation would entitle the appellants to the rescission of their contracts of stock subscription and the recovery back of the money paid by them thereon, if those of them who have by their proof brought themselves within the rule of law applicable thereto have not waived their rights by ratification of such contracts.
*329As stated in section 347 of Black on Rescission of…
2Cases cited17 opinions
- Smith v. RichardsSupreme Court of the United States · 1839
- Hindman v. First Nat. Bank of LouisvilleCourt of Appeals for the Sixth Circuit · 1902
- Max Meadows Land & Improvement Co. v. BradySupreme Court of Virginia · 1895
- Wilson v. HundleySupreme Court of Virginia · 1898
- Fear v. BartlettCourt of Appeals of Maryland · 1895
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3Cited by3 opinions
- Millboro Lumber Co. v. Augusta Wood Products Corp.Supreme Court of Virginia · 1924
- Kennedy v. Central Power Co.Nebraska Supreme Court · 1935
- Dollar v. DollarFrederick County Circuit Court · 1983