Danielson v. Yoakum

Citations

• 116 Cal. 382
• 48 P. 322
• 1897 Cal. LEXIS 557

Syllabus

<p>Fraud— Rescission of Purchase of Bank Stock—Stockholder’s Liability—Voluntary Payment—Insufficient Complaint.—A complaint showing that a purchase by plaintiff of bank stock from the defendant had been rescinded for fraudulent representations inducing the purchase, and alleging that plaintiff was sued as a stockholder by attachment upon large claims for indebtedness which existed at the time of the transfer of the stock by defendant to plaintiff, and that plaintiff had a proportionate share of said claims on account of said stock, for which sum damages were claimed, states no cause of action for damages, but merely shows a voluntary payment hy plaintiff of a liability which pertained alone to the defendant, and from which defendant was not released by the transfer.</p>