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GOOD BROTHERS, INC. v. BANOWITZ

No. 12583.

269 F.2d 197 (1959)

GOOD BROTHERS, INC., a Delaware corporation, Plaintiff-Appellee, v. Benjamin BANOWITZ, Defendant-Appellant.

United States Court of Appeals Seventh Circuit.

Rehearing Denied August 26, 1959.

Attorney(s) appearing for the Case

Owen Rall, Chicago, Ill., Herbert C. Loth, Jr., John W. Kearns, Jr., Chicago, Ill., Peterson, Lowry, Rall, Barber & Ross, Chicago, Ill., of counsel, for appellant.

Albert E. Jenner, Jr., Chicago, Ill., Samuel W. Block, Sheldon Karon, Chicago, Ill., Thompson, Raymond, Mayer, Jenner & Bloomstein, Chicago, Ill., of counsel, for appellee.

Before DUFFY, Chief Judge, and HASTINGS and CASTLE, Circuit Judges.

DUFFY, Chief Judge.

This a suit seeking a rescission of a written stock purchase agreement dated October 26, 1954. Plaintiff alleges defendant made false representations which were relied upon by plaintiff. As the result of the agreement, defendant sold to plaintiff 450 shares of common stock of B. & B. Enterprises, Inc. (B & B) for the sum of $218,750, and B & B sold to plaintiff 20 shares of its preferred stock for the sum of $200,000.

Plaintiff...

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