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FULLMER v. BAKER

No. 12969.

508 P.2d 43 (1973)

29 Utah 2d 257

Frank H. FULLMER, Plaintiff and Respondent, v. Parley J. BAKER, Defendant and Appellant.

Supreme Court of Utah.

March 27, 1973.

Attorney(s) appearing for the Case

Ralph J. Marsh, of Backman, Backman & Clark, Salt Lake City, for defendant-appellant.

Lowell N. Hawkes, of Worsley, Snow & Christensen, Salt Lake City, for plaintiff-respondent.

HENRIOD, Justice:

Appeal from a judgment rescinding a contract of purchase and sale of corporate stock and adjudging the return of the purchase price. Affirmed with costs to plaintiff.

Believable facts favorable to the judgment may be related as follows: Fullmer gave Baker $5,000 for 20,000 shares of unregistered stock. Baker later drafted an agreement, which provided for (1) delivery of the stock, (2) "free from all encumbrances" and (3) "properly endorsed...

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