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FIRST BAPTIST CHURCH OF GRAYSON VAL., INC. v. SHELL

82-88.

439 So.2d 29 (1983)

FIRST BAPTIST CHURCH OF GRAYSON VALLEY, INC., a Corporation v. Samuel B. SHELL, Nationwide Bond, Inc., and Insurance Company of North America.

Supreme Court of Alabama.

Rehearing Denied September 30, 1983.

Attorney(s) appearing for the Case

Herbert W. Stone, Birmingham, for appellant.

Gould H.K. Blair, Birmingham, for appellee Nationwide Bond, Inc.

William C. Wood, Norman, Fitzpatrick & Wood, Birmingham, for appellee Insurance Co. of North America.

EMBRY, Justice.

First Baptist Church of Grayson Valley, Inc., sued Shell and Nationwide, Inc., for damages on account of fraudulent representations made by Shell in connection with the issuance and sale of bonds of the Church. The trial resulted in a verdict against Shell in the amount of $62,000 but the jury expressly exonerated Nationwide.

Insurance Company of North America is surety on a statutory securities dealer bond with Nationwide, a registered securities...

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