![]() As guardian, Greene had the right to vote the stock. In 1933 plaintiff's father, owing $240,000 to Alice Lester, settled the debt by selling 6,000 shares at $40 per share to the guardianship estate, which thereby obtained control of the company. He owned no stock other than one share to qualify him as a director. Since 1932 Greene has been president of the Hobart Estate Company, and he has also been its general manager and a director. The law firm has acted as attorney for the guardian. Defendant Greene, a partner in the firm, subsequently became coguardian, and upon the death of McCutchen continued as sole guardian. McCutchen, a member of the law firm, was appointed guardian of her estate. In 1907 Alice Lester was declared incompetent and she has since been confined in an institution. The law firm of McCutchen, Olney, Mannon and Greene, or its predecessors (hereinafter called the law firm), have represented the company since its inception. Prior to 1933 certain of the three original stockholders surrendered some of their stock to the company, leaving 38.010 shares outstanding. The three children organized the Hobart Estate Company, a family corporation, transferring thereto substantially all the assets they had obtained from the estate. Hobart (plaintiff's father), Alice Lester and Virginia Baldwin. Hobart, the grandfather of plaintiff, died in 1892, leaving his estate to his children, Walter S. Defendants have appealed from the judgments entered on the verdict and from orders denying motions for judgment notwithstanding the verdict. A verdict was rendered against defendants Greene and the Hobart Estate Company for actual damages, together with an award of exemplary damages against Greene. This is an action for damages for loss resulting from alleged fraudulent representations through which plaintiff claims he was induced to sell 833 1/3 shares of stock in the Hobart Estate Company at less than its true value. Hallinan and James Martin MacInnis for Respondent. Lipman and McCutchen, Thomas, Matthew, Griffiths & Greene for Appellants. Dunne, Dunne & Dunne, Sloss & Turner, Allan P. ![]() ![]() HOBART ESTATE COMPANY (a Corporation) et al., Appellants.Īrthur B.
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