Will mallor be successful in a lawsuit against phillips

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Reference no: EM131377705

On February 2, Phillips induced Mallor to purchase from her fifty shares of stock in the XYZ Corporation for $10,000, representing that the actual book value of each share was $200. A certificate for fifty shares was delivered to Mallor.

On February 16, Mallor discovered that the February 2 book value was only $50 per share. Thereafter, Mallor sues Phillips. Will Mallor be successful in a lawsuit against Phillips? Why?

Reference no: EM131377705

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