Schwabacher & Co. v. Zobrist

*56OPINION

Appellant Schwabacher and Co. (Schwabacher) commenced this action to recover damages from respondents Ray V. Zobrist and Marilyn Zobrist (the Zobrists) resulting from a stock sale transaction. The trial court ruled in favor of the Zobrists and Schwabacher appealed.

In the late 1960’s, Schwabacher was a San Francisco stock brokerage house with a branch office in Las Vegas. On July 24,

1967, the Kentucky Fried Chicken (KFC) stock transfer agent issued to the Zobrists two hundred shares of KFC stock which the Zobrists had previously purchased through Schwabacher’s Las Vegas Branch office.…