Sharp v. Idaho Investment Corp.

504 P.2d 386 (1972)

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Sharp v. Idaho Investment Corp.

Idaho Supreme Court
504 P.2d 386 (1972)

MP

Facts

Merrill J. Sharp and his wife, Winnie H. Sharp (the Sharps) (plaintiffs) sued the Idaho Investment Corporation (IIC) and its officers (defendants) for alleged fraudulent misrepresentations that induced the Sharps to buy stock. The Sharps’ testimony indicated that the Sharps did not read an offered promotional circular until after they invested and instead relied on their experience with another corporation, in which many IIC officers were also affiliated. The trial court tried the case without a jury and awarded the Sharps damages. IIC and its officers appealed and argued that the Sharps failed to prove the common-law elements of fraud.

Rule of Law

Issue

Holding and Reasoning (McFadden, J.)

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