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MOLINA v. LARGOSA

No. 4849.

465 P.2d 293 (1970)

Henry MOLINA v. Rudy LARGOSA.

Supreme Court of Hawaii.

Rehearing Denied February 9, 1970.

Attorney(s) appearing for the Case

Frank D. Padgett, Honolulu (Padgett, Greeley, Marumoto & Akinaka, of counsel), for appellant.

Ronald Y.C. Yee, Gen. Counsel, Legal Aid Society of Hawaii, and John W.K. Chang, Associate Counsel, Honolulu, for respondent.

Before RICHARDSON, C.J., ABE, LEVINSON and KOBAYASHI, JJ., and WONG, Circuit Judge, for MARUMOTO, J., disqualified.

WONG, Circuit Judge.

Plaintiff bought stock in a newly formed corporation which failed. He sued the promoter of the corporation seeking to recover his investment. The trial court held that the promoter of the corporation was not personally liable. We affirm.

On April 15, 1963, plaintiff Henry Molina attended a meeting to discuss the formation of a corporation, Direct Selling Corporation of Hawaii. The corporation was to engage in selling stereo equipment under...

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