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Kreis v. Mates Investment Fund, Inc.

473 F.2d 1308 (1973)

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Kreis v. Mates Investment Fund, Inc.

United States Court of Appeals for the Eighth Circuit
473 F.2d 1308 (1973)

Facts

Missouri citizen Fred Kreis (plaintiff) purchased stock in New York-based Mates Investment Fund, Inc. (Mates) (defendant). Kreis mailed his purchase offer to Mates in New York. From New York, Mates sent a written purchase confirmation to Kreis at his Missouri home. Kreis received the written confirmation, which was the only communication Mates sent Kreis. Kreis brought an action seeking rescission of his purchase pursuant to the Missouri Uniform Securities Act, which would apply only if Mates accepted Kreis’s purchase offer in Missouri within the meaning of the act. The district court ruled that although Kreis made his purchase order in Missouri, Mates did not accept the offer in Missouri within the meaning of the act and thus Kreis could not obtain relief under the act. Kreis appealed.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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