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Banton v. Hackney

557 So. 2d 807 (1989)

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Banton v. Hackney

Alabama Supreme Court
557 So. 2d 807 (1989)

AR

Facts

James Banton (defendant) induced T. Morris Hackney (plaintiff) to buy stock in Banton’s company by making materially false representations regarding the company’s financial condition. Banton did not invest the money in stock but instead used it to pay off mortgages on his home and a condominium. Hackney sued, arguing that he was entitled to a constructive trust on Banton’s property.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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