Taylor v. Bastian
Taylor v. Bastian
Opinion of the Court
Plaintiff in error, Taylor, ás defendant below, together with one J. H. Kelley, by false and fraudulent representations induced the defendant in error, Bastían, to purchase from Kelly certain shares of stock in a corporation which Taylor was promoting. These fraudulent representations consisted in statements made by Kelley and Taylor calculated to induce in the mind of Bastían a belief that the corporation, which was organized, among other thing's, for the purpose of constructing a railroad and promoting town sites, possessed valuable assets, which in truth and in fact it did not own, and that practically all the stock of said corporation had been subscribed and paid for, while but very'little of said stock had been paid for or unqualifiedly subscribed. Upon discovering these facts, Bastian brought suit to recover the money which he had paid for said stock, and had judgment.
The evidence shows, with reasonable clearness that the stock had no value whatever; and it also showed conclusively that both Taylor and Kelley, and, especially Taylor, must have known of the falsity of the statements which they made to
The judgment of the trial court is affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.