Stonehocker v. Cassano

Appellant sued to rescind his purchase of 840 shares of A & D Trucking Company from Price Armstrong and 420 shares of the same company from Charlie Cassano for the sums of $3,000 and $767 respectively. The court found against him and entered judgment in favor of respondents on their cross-complaint for the unpaid balance of the purchase price of the stocks as evidenced by his promissory notes and for counsel’s fees and costs.

In demanding a reversal of the judgment, appellant contends that his contract of purchase is void by reason of the statutory inhibition of the sale of corporate stock…