(Download) "George G. Adams v. Gaye Reagan" by Supreme Court Of Utah ~ Book PDF Kindle ePub Free
eBook details
- Title: George G. Adams v. Gaye Reagan
- Author : Supreme Court Of Utah
- Release Date : January 30, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
Neither party disputes the following recitation of the facts. First Mercantile Corporation ("FMC") was a financial investment company located in Wichita Falls, Texas. By advertising and soliciting, FMC encouraged residents of Texas to make deposits or purchase securities issued by the corporation. Appellants state that FMCs business was to reinvest funds placed by individual investors. Appellees contend that the shareholders of FMC caused the corporation to loan money on a wide variety of speculative loans, many of which were to ventures or entities in which the shareholders held an interest. FMC issued Investor Notes, which provided investors fixed or floating rates of return. The Investor Notes were duly licensed and approved by the Texas Securities Commission. By March 1988, approximately 1,100 individuals and entities had investments at FMC.