C. M. Condon & Co. State Bank v. Richardson

The opinion of the court was delivered by

Hopkins, J.:

The plaintiffs recovered on two causes of action: First, on the defendant’s liability as a stockholder; second, on account of moneys paid out of the bank’s funds for defendant’s stock which he had sold to the managing officer of the bank. The defendant appeals.

The facts are substantially as follows: The defendant owned ten shares of stock in the plaintiff bank. On October 19, 1921, he sold his stock to W. E. Davis, managing officer of the bank. He surrendered his stock certificates to Davis, who agreed to have the stock *696transferred on the…