Pruszynski v. Nowy Swiat Publishing Co.

Appellate Division of the Supreme Court of New York

Pruszynski v. Nowy Swiat Publishing Co.

248 A.D. 893, 290 N.Y.S. 457, 1936 N.Y. App. Div. LEXIS 7977

Appellate Division of the Supreme Court of the State of New York·Decided October 16, 1936·Published

Opinion

Judgment dismissing the plaintiffs’ complaint on the merits in an action to recover damages alleged to have been sustained by reason of fraudulent misrepresentations in the purchase and sale of bonds, and order denying plaintiffs’ motion for a new trial, reversed on the law and the facts and a new trial granted, costs to abide the event. In our opinion, the plaintiffs made an ample prima facie showing of fraud and deceit. We are further of opinion that it was error to exclude the trial balance sheet which indicated on its face that the defendant Kresse Holding Corporation was insolvent. In view of the fact that from the proof adduced by the plaintiffs a jury could find that the mortgage security was without value to these bondholders and thar the obligor was insolvent, as shown by its trial balance of 1930, it was incumbent upon the defendants to adduce proof to the contrary. Lazansky, P. J., Hagarty, Davis, Adel and Taylor, JJ., concur.

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Judgment dismissing the plaintiffs’ complaint on the merits in an action to recover damages alleged to have been sustained by reason of fraudulent misrepresentations in the purchase and sale of bonds, and order denying plaintiffs’ motion for a new trial, reversed on the law and the facts and a new trial granted, costs to abide the event. In our opinion, the plaintiffs made an ample prima facie showing of fraud and deceit. We are further of opinion that it was error to exclude the trial balance sheet which indicated on its face that the defendant Kresse Holding Corporation was insolvent. In view of the fact that from the proof adduced by the plaintiffs a jury could find that the mortgage security was without value to these bondholders and thar the obligor was insolvent, as shown by its trial balance of 1930, it was incumbent upon the defendants to adduce proof to the contrary. Lazansky, P. J., Hagarty, Davis, Adel and Taylor, JJ., concur.

Pruszynski v. Nowy Swiat Publishing Co., 248 A.D. 893, 290 N.Y.S. 457, 1936 N.Y. App. Div. LEXIS 7977 (N.Y. Ct. App. 1936).

Pincite

248 A.D. 893 (Pruszynski v. Nowy Swiat Publishing Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.