Elzarian

These consolidated actions seek damages for fraud in the sale of stock of Uni-Insurance Service Corporation. Trial opened before a jury, but on the sixth day jury was waived and the cases continued to judgment before the court alone. Defendant Pickrell was president of the corporation, defendant Emerson E. Wiser was vice-president and general manager, and both were directors, as were defendants Ray B. Wiser and Kirk. Nonsuit was entered in favor of Kirk. Plaintiffs had judgment against both Wisers and Pickrell. Defendants Wiser appeal from the judgment against them, defendant Pickrell separately appeals from the judgment against him, and plaintiffs appeal both from the judgment of nonsuit as to Kirk and from the judgment in their favor insofar as it fails to order civil arrest of defendants.

In May 1954, the corporation obtained from the Commissioner of Corporations a permit to issue shares of its stock. The permit allowed issuance to named individuals only, required deposit in escrow of issued shares, and specifically provided that owners “shall not consummate a sale or transfer” of shares, “or receive any consideration therefor, until the written consent of [the commissioner]…