Austin v. Massachusetts Bonding & Insurance

Certain of the plaintiffs appeal from a judgment entered in favor of defendant Massachusetts Bonding and Insurance Company after its general demurrer to an amended complaint was sustained without leave to amend.

Plaintiffs on September 19, 1957, brought an action against Pacific States Securities Corporation, some of its officers, and certain defendants sued under fictitious names, to recover securities and moneys. The complaint, without making any distinction between those sued by their true names and those designated by fictitious names, alleged that “defendants” acted as brokers and agents for plaintiffs and refused to deliver securities and moneys which they had received on behalf of plaintiffs. It was also alleged that defendants, in making a license application on behalf of Pacific, “filed therewith surety bond in the sum of $5,000 for the faithful performance of its duties as a licensed broker” and that defendants and *599 each of them held out and represented that defendant Bunce had power to act for Pacific and that “they, the said defendants,” were duly licensed to act as brokers. Plaintiffs averred that they did not know the true names of the defendants sued under…