Braren

Braren v. Reliable Carpet Works, Inc.

Good Law
125 Cal. App. 489·1932 Cal. App. LEXIS 692·13 P.2d 972
Court of Appeal of CaliforniaAugust 25, 1932Docket No. 8305.California946 words

Opinion

lead Opinion

Knight, J.

This action is one of three brought to rescind the sale of corporate stock purchased by plaintiffs from the Reliable Carpet Works, Inc., a Delaware Corporation, and to recover the purchase price paid therefor upon the ground that the sales were brought about by fraudulent representations made by the representatives of said corporation; and that the permit issued by the corporation commissioner to sell said stock was under suspension at the time these sales were made. Waldo W. Braren is the plaintiff in the present action, which involves a single sale of stock for the sum of $250; Mary Braren and Edlyn B. Welch are the plaintiffs in the other actions, each of which involves two sales of stock for the sum of $500. The actions were brought against “Reliable Carpet Works, Inc., a Delaware Corporation, Reliable Carpet Works, Inc., a California Corporation, R. D. Cornell, H. L. Cornell, Robert F. Kearney, and H. T. Brookmiller”, the individuals named being, so the complaint alleges, “the duly authorized and acting agents” of the Delaware corporation. The California corporation demurred to the complaint in each action, and its demurrers were sustained without leave to amend, and from the…

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