178 P. 180 | Or. | 1919
The plaintiff is a corporation organized and existing under the laws of the Province of British Columbia, Dominion of Canada. It is alleged in the complaint that on July 11,1912, the plaintiff sold to the defendant ten shares of its- capital stock for which the defendant agreed to pay $100 per share ‘‘upon calls to be made from time to time by plaintiff according to the laws, by-laws and regulations governing the same.” It is further averred that on June 20, 1913, the defendant purchased an additional share of stock and agreed to pay $100 for it upon calls to be
The answer avers that the ten shares were sold to the defendant upon the payment by him of $250 and
“with the definite understanding and agreement that the balance of said stock was to be paid by plaintiff corporation from accumulated dividends thereon, defendant agreeing to allow said dividends to be applied on the payment of the balance of said stock so purchased. ’ ’
It is further alleged in the answer that an additional share of stock was sold to the defendant and that he paid $15 for it. The defendant says in his pleading that he was induced to purchase the eleven shares of stock in reliance upon fraudulent representations made by the plaintiff; that the stock “is worthless and of no value”; and he therefore demands judgment for $265, the amount paid by him on the stock. The affirmative defenses were denied by an appropriate reply.