Foreman v. Holsman

1 Citing case

  1. Froehlich v. Matz

    93 Ill. App. 3d 398 (Ill. App. Ct. 1981)   Cited 13 times
    Holding that shareholder's action against promoter of unregistered securities pursuant to Securities Act did not survive his death as the Securities Act contained no survival provision

    Plaintiff Vezain argues that through her action in signing the share certificates, Carolyn Borys Buchanan aided and participated in the sale of securities to him. In support of this position, Vezain's counsel cites Foreman v. Holsman (1958), 16 Ill. App.2d 466, 148 N.E.2d 595, an abstract case which dealt with pre-1953 securities law in Illinois. The issue in that case was whether a corporate trustee, who had performed only ministerial duties in connection with an illegal sale of a beneficial interest, was liable to the purchasers as a seller.