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eBook details

• Title: Commissioner Banks v. Chase Securities
• Author : Supreme Court of Minnesota
• Release Date : January 20, 1937
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 100 KB

Description

FIELD, Justice. These two actions of contract, brought by writs dated August 13, 1934, were tried together by a Judge of the Superior Court sitting without a jury. The plaintiff in the first case is the commissioner of banks in possession of the Lowell Trust Company (herein referred to as the trust company). The plaintiff in the other case is Mary B. Brandegee. The defendant in each case is the Chase Securities Corporation, a corporation organized under the laws of the State of New York (herein referred to as the corporation). Each action is brought to recover the purchase price of stock in the defendant corporation (together with stock of the Chase National Bank) purchased from said corporation by the plaintiff in that action and is based on the ground that the sale of such stock was in violation of the Sale of Securities Act. Each declaration is in two counts: the first, a count alleging the sale of such stock in violation of the statute; the second, a count for money had and received. In each case the defendant pleaded a general denial and ratification. The trial Judge filed Findings in which he found generally for the plaintiffs, made rulings of law and specific findings of fact, and granted and denied requests for rulings made by the plaintiffs and by the defendant. The cases come before us on the defendants exceptions to the exclusion of evidence, to the granting of the plaintiffs requests for rulings, to the refusal to grant requests for rulings made by it, to the rulings of law made in * * * decision and to the findings of fact therein contained so far as they are not supported by the testimony and exhibits in the cases, and to the denial of the defendants motions to reopen the cases for the introduction of further evidence; and on the plaintiffs exceptions to the exclusion of evidence and the denial of their requests for rulings. The plaintiffs exceptions are waived if the exceptions of the defendant are overruled.

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