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WASHINGTON NAT. CORP. v. THOMAS

No. 2 CA-CIV 2319.

117 Ariz. 95 (1977)

570 P.2d 1268

WASHINGTON NATIONAL CORPORATION, a Delaware Corporation, Washington National Trust Company, an Arizona Corporation, Washington National Fund, Inc., a corporation, Anchor National Financial Services, Inc., a corporation, Anchor Corporation, a corporation, and James S. Wheeler, Appellants and Cross Appellees, v. Luceille W. THOMAS, a widow, Brown W. Thomas, Audrey Thomas, Kathryn Jean Thomas, Diane Audrey Thomas, and Brown W. Thomas, as Special Administrator of the Estate of W. Alan Thomas, Deceased, Appellees and Cross Appellants.

Court of Appeals of Arizona, Division 2.

Rehearing Denied October 3, 1977.

Review Denied November 1, 1977.

Attorney(s) appearing for the Case

Chandler, Tullar, Udall & Redhair by Robert E. Lundquist, Tucson, for appellant and cross appellee Washington National Corp.

Stockton & Hing by Robert Ong Hing, Phoenix, for appellants and cross appellees Washington National Trust Co., Washington National Fund, Inc., Anchor National Financial Services, Inc., Anchor Corp., and James S. Wheeler.

Molloy, Jones, Donahue, Trachta & Childers, P.C. by John F. Molloy, Tucson, for appellees and cross appellants.

OPINION

HOWARD, Chief Judge.

This is an appeal from a judgment of the trial court which found that appellants had violated the Arizona Securities Act and as a result rescinded a trust agreement by and between the deceased, W. Alan Thomas and appellant Washington National Trust Company. The court awarded damages in the sum of $179,970.31 in favor of appellee Luceille W. Thomas and $490,661.44 in favor of W. Alan Thomas and against all appellants. The trial...

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