Court Opinion

ID: 9828968
Source: CourtListenerOpinion
Date Created: 2023-09-01 18:53:38.344595+00
Date Added: 2024-06-11T07:42:55.835874
License: Public Domain

On Motion for Rehearing.
Plaintiff in error, by his motion for rehearing, calls in question our ruling in the original opinion, wherein we approved the action of the trial court in directing a ver-dicta against him on his cross-action for conversion of capital stock.
We desire to predicate our approval of the trial court’s action in directing a verdict on the cross-action for the reason that the plaintiff in error did not allege, nor did he offer evidence of, ownership, interest, or right of possession in the stock, and therefore the trial court was correct in directing a verdict.
What we said with reference to the par value of corporate stock not being presumed to be of face value until otherwise shown by evidence is not necessary to the determination of this case, and we therefore withdraw that part of the original opinion. In all other respects the motion for rehearing is overruled.