Case ID: ill-app_184/html/0112-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Justice Philbrick", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

W. P. Potter, Plaintiff in Error, v. S. A. Gibson et al., Defendants in Error.
    (Not to be reported in full.)
    Abstract of the Decision.
    Fraud, § 35
      
      —when statements as to financial condition of corporation not actionable. In an action on the case to recover money paid for stock in a corporation, alleged to have been induced by the misrepresentations concerning the financial condition of the company made by defendants to whom plaintiff had been referred by the seller, a direction of a verdict for defendants held not error where some of the statements and representations were mere expressions of opinion and others were made after the plaintiff had raised money to make the investment so that plaintiff could not have relied thereon.
    
      Error to the Circuit Court of Sangamon county; the Hon. James A. Creighton, Judge, presiding.
    Heard in this court at the October term, 1912.
    Affirmed.
    Opinion filed April 18, 1913.
    Rehearing denied October 15, 1913.
    Statement of the Case.
    Action by W. P. Potter against S. A. Gibson, A. C. Gibson, G. A. Gibson, J. Francis Miller, Illinois National Bank and H. M. Merriam, to recover the sum of four thousand dollars alleged to have been paid by plaintiff for stock in a certain corporation upon the misrepresentations of defendants as to the solvency and financial condition of such corporation. Plaintiff dismissed the action as against the Gibsons. From a judgment entered in favor of other defendants on a directed verdict, plaintiff brings error.
    J. E. Winterbotham and E. A. Perry, for plaintiff in error.
    McAnulty & Allen, for defendants in error, H. M. Merriam and Illinois National Bank.
    
      
      Sce Illinois Notes Digest, Vols. XI to XV, same topic and section number.
    
   Mr. Justice Philbrick

delivered the opinion of the court.