FRENDREIS v. FINANCIAL CONCEPTS, LTD.

No. 81-1503.

106 Ill. App.3d 438 (1982)

435 N.E.2d 1304

NICK W. FRENDREIS et al., Plaintiffs-Appellants, v. FINANCIAL CONCEPTS, LTD., Defendant-Appellee.

Appellate Court of Illinois — First District (2nd Division).

Rehearing denied June 10, 1982.


Attorney(s) appearing for the Case

Bradley, McMurray, Black & Snyder, of Chicago (Michael A. Snyder, of counsel), for appellants.

Fohrman, Lurie, Sklar & Simon, Ltd., of Chicago (Paul Cottrell, of counsel), for appellee.


Reversed and remanded.

PRESIDING JUSTICE STAMOS delivered the opinion of the court:

Plaintiffs Nick and Bernice Frendreis brought suit against five defendants to rescind the purchase of a note. The defendants are Financial Concepts, Ltd. (the seller of the note), Charles Knapp (a salesman employed by Financial Concepts), Sterling Enterprises, Inc. (the issuer of the note), and John Meatte and Kenneth Kortas (officers of Sterling). Plaintiffs brought this rescission...

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