On february 16 mallor discovered that the february 2 book


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?

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Management Theories: On february 16 mallor discovered that the february 2 book
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