Strand Building Corp. v. Russell & Saxe, Inc.

In a rescission action, defendants move to dismiss the complaint for insufficiency (Bules Civ. Prac., rule 106).

The complaint alleges an agreement to purchase stock. In consideration for the purchase of, and the payment for, 5,000 shares of common stock of a designated corporation, the defendants, allegedly underwriters for the public offering of such stock, agreed in writing ‘ ‘ to deliver to ’ ’ the plaintiff an additional 500 shares if the plaintiff “ does not sell or transfer any of said 5,000 shares within ninety (90) days from date hereof.” And the writing further provides that in the…