(DOWNLOAD) "Charles E. Hinkson v. Harry Sauthoff Et" by Supreme Court of Wisconsin # eBook PDF Kindle ePub Free
eBook details
- Title: Charles E. Hinkson v. Harry Sauthoff Et
- Author : Supreme Court of Wisconsin
- Release Date : January 07, 1956
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
Action of fraud by the plaintiff Charles E. Hinkson, Sr., to recover $100,000 damages against the defendants, Harry Sauthoff,
Marion L. Hinkson Winsor, and First National Bank of Madison, Wisconsin, as executor of the estate of Edna K. Hinkson, deceased.
The defendant Winsor is plaintiff's sister, and Edna K. Hinkson, also known as Edna K. Gillette, is the deceased mother of
the plaintiff. The material allegations of plaintiff's amended complaint are as follows: Park E. Hinkson, father of the plaintiff died testate
on June 7, 1932, owning 408 shares of the capital stock of Hinkson Advertising Company (hereinafter referred to as the 'corporation')
which had a then value of $80,000; that the last will and testament of said Park E. Hinkson bequeathed the residue of his
estate remaining after payment of debts, funeral expenses, and probate expenses in equal shares to his two children, i. e.,
the plaintiff and the defendant Winsor, subject to a life estate in the widow, Enda K. Hinkson; that the court (the county
court of Dane county) appointed three residents of the city of Madison to appraise the assets of the estate who appraised
said 408 shares of stock as being worth ' nil ' and also appraised a claim of the deceased against the corporation in the
sum of $1,200 as being worth $600; that the defendant Sauthoff as executor of the estate petitioned the county court for authority
to sell the personal property of the deceased on the ground that it was necessary in order to pay debts and expenses of administration;
that the county court on April 6, 1933, authorized said executor to sell said personal property at private sale and that the
same was then sold by the executor to Enda K. Hinkson, for $1,000 at private sale; that prior to the incorporation of the
corporation it operated as a partnership and that 'about two years before his death' the deceased had purchased the interest
of his partner for $40,000; that the corporation showed a substantial profit during the years preceding and following the
death of plaintiff's father; that the corporation's main assets were and are exclusive contracts for national advertising
which bring in substantial revenues; that the defendant Sauthoff as executor occupied a fiduciary capacity which made it his
duty to make a full, complete and honest disclosure to the county court of all facts known to him concerning the value of
said 408 shares of stock; that said executor fraudulently concealed the value of said stock and fraudulently represented to
the court that $1,000 was a reasonable value for the assets sold to the widow; that by such means he obtained the court's
approval of the private sale to plaintiff's mother to the detriment of the plaintiff; that the widow purchased said personal
property with full knowledge of the fraud being perpetrated on the plaintiff and his sister; that plaintiff did not become
aware of the fraud until his mother's death, which occurred on November 17, 1953, when he discovered that she claimed to own
all of the stock formerly owned by Park E. Hinkson; and that plaintiff's mother had made plaintiff's sister, Mrs. Winsor,
the sole beneficiary thereof under her (the mother's) will.