Sam Simpleton, a resident of Kansas, and Nellie Naive, a resident of Missouri, each bought $85,000 in

Question:

Sam Simpleton, a resident of Kansas, and Nellie Naive, a resident of Missouri, each bought $85,000 in stock at local offices in their home States from Evil Stockbrokers, Inc. (‘‘Evil’’), a business incorporated in Delaware, with its principal place of business in Kansas. Both Simpleton and Naive believe that they were cheated by Evil Stockbrokers and would like to sue Evil for fraud. Assuming that no Federal question is at issue, assess the accuracy of the following statements:
(a) Simpleton can sue Evil in a Kansas State trial court.
(b) Simpleton can sue Evil in a Federal district court in Kansas.
(c) Naive can sue Evil in a Missouri State trial court.
(d) Naive can sue Evil in a Federal district court in Missouri.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

Question Posted: