Jones v. Granite Live Stock Insurance, 204 Ill. App. 553 (1917)

April 16, 1917 · Illinois Appellate Court
204 Ill. App. 553

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 *554on 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.

*553Appeal 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.

Mr. Presiding Justice Thompson

delivered the opinion of the court.