Levine v. Konheim

Plaintiffs, as executors of one Nat Levine, deceased, sue to recover on an agreement between Levine and defendant. The complaint alleges that to induce Levine to subscribe for fifty shares of the preferred stock of Gimbel’s Stores, Inc., at par value $100 per share and to pay therefor, defendant agreed on July 27, 1926, that if Levine subscribed for fifty shares defendant would redeem the shares within thirty days from August 1, 1931, at par and accrued dividends if Gimbel’s Stores, Inc., did not redeem the stock on or before said date; that in reliance on defendant’s agreement Levine did…