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FARRAR v. HOOD

No. 5527.

249 P.2d 759 (1952)

56 N.M. 724

FARRAR et al. v. HOOD et al.

Supreme Court of New Mexico.

Rehearing Denied November 18, 1952.

Attorney(s) appearing for the Case

Brand & Cowan, Hobbs, for appellants and cross-appellees.

Frazier, Quantius & Cusack, Roswell, for appellees and cross-appellants.

COMPTON, Justice.

The decisive questions presented by this appeal are (a) whether the sale of speculative securities in contravention of Chapter 44, Laws of 1921, 50-1701, 1941 Comp. is void or voidable; and if voidable, (b) whether the purchaser of such securities is barred by laches from maintaining an action for rescission.

The pertinent provisions of the Act read:

"It shall be unlawful hereafter for any person, copartnership, association, common...

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