McCabe v. Burns

Citations

• 66 Pa. 356
• 1871 Pa. LEXIS 42

Syllabus

<p>1. B. & S. projected an oil company and induced M. to subscribe to the stock. The land on which it was based was afterwards conveyed to the company by the vendor of B. & S. M. sued them to recover the money paid for his subscription, on the ground of their fraudulent misrepresentations. It was not necessary that M. should first tender a reconveyance of the land.</p> <p>2. The company was not incorporated. No estate passed by the conveyr. anee and M. had no interest legal or equitable in the land.</p> <p>3. B. & S. had given M. a receipt for his subscription, but no stock had been issued to him; he was not bound to tender the stock nor the receipt which was the evidence of his payment.</p> <p>4. There was evidence that B. & S. acted in concert and made false statements in procuring the subscriptions of M. and others. Evidence of the acts and declarations of B. & S. or either of them, either in the presence or absence of M., if tending to throw light on the transaction or corroborate testimony already in,Was admissible.</p>