Bushey v. Coffman

Citations

• 103 Kan. 209
• 173 P. 341
• 1918 Kan. LEXIS 226

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Purchase of Bank Stock — False Representations — Evidence Sufficient as against Demurrer. The evidence adduced by plaintiff to support .his cause of action for damages sustained through defendant’s false and fraudulent representations touching the financial condition of a bank, whereby the plaintiff was induced to purchase defendant’s stock — a controlling interest — in the bank, examined, and held sufficient against a demurrer.</p> <p>2. Promissory Note — Obtained by Duress — Evidence Sufficient as against Demurrer. The pleadings and plaintiff’s evidence to support a cause of action for rescission of a contract made under duress for the purchase of land and for the return and cancellation of plaintiff’s note given therefor examined, and held sufficient against a demurrer to plaintiff’s evidence; and held, also, that the issue of duress and consequent illegality of the note raised by the pleadings and established prima facie by plaintiff’s evidence made it improper to render judgment for defendant on his cross petition, although plaintiff’s answer to the cross petition was not verified.</p> <p>3. Financial Responsibility — Opinion Evidence Competent. The opinions of well-informed bankers and business men touching the financial reliability of persons of their community and the promptness and ability of such persons to pay their debts may be of some evidentiary assistance to a jury in determining the worth or worthlessness of such persons’ notes as assets of a bank.</p> <p>4. Sale of Bank Stock — False Representations — Evidence. Plaintiff’s evidence tended to prove the following facts: The defendant organized a bank, controlled its stock, and conducted its business for several years. He represented to plaintiff that the bank was prosperous; that the book value of its stock was $125 per share or better; that the bank was successfully maintaining a salary list of $5,000 per annum; that its profits for the current year would allow 10