Case ID: ill-app_204/html/0553-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Presiding Justice Thompson", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

P. N. Jones, Appellee, v. Granite Live Stock Insurance Company, Appellant.
    (Not to be reported in full.)
    Abstract of the Decision.
    Corporations, § 516
      
      —when evidence insufficient to show purchase of stock in reliance on representations of officers. Evidence held sufficient to show plaintiff did not buy certain stock, relying on representations as to defendant’s solvency and the value of defendant’s capital stock made by certain of defendant’s officers, in an action to recover money paid on the purchase of such stock.
    
      Appeal from the Circuit Court of McLean county; the Hon. Sain Weltt, Judge, presiding. Heard in this court at the October term, 1916.
    Reversed.
    Opinion filed April 16, 1917.
    Statement of the Case.
    Action by P. K Jones, plaintiff, against Granite Live Stock Insurance Company, defendant, to recover $1,500 paid on the purchase of ten shares of defendant’s capital stock, with interest. From a judgment for plaintiff for $1,585.21, defendant appeals.
    Stone & Dick, for appellant.
    Rayburn & Buck, for appellee.
    
      
      See Illinois Notes Digest, Vols. XI to XV, and Cumulative Quarterly, same topic and section number.
    
   Mr. Presiding Justice Thompson

delivered the opinion of the court.