Gillies v. Linscott

Citations

• 94 Kan. 217
• 146 P. 327
• 1915 Kan. LEXIS 73

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. False Representations — By Agent — Inducing Purchase of Corporate Stock — Liability of Agent. Where an agent, by false representations affecting' its value, induces his principal to authorize him to purchase treasury stock in a corporation, and instead of doing so procures other stock, previously issued, and delivers it without revealing its source, the principal may, after learning the facts, offer to return the stock to the agent, and maintain an action against him for the amount paid him.</p> <p>2. Limitation op Actions — Discovery of Fraud — Allegations of Petition. In an action for relief on the ground of fraud, an allegation in the petition that the plaintiff did not discover the actual facts or the falsity of the representations made to him until a certain date will be regarded as negativing constructive notice, as well as actual, prior to that time, unless upon a motion directly challenging the language for uncertainty.</p>