Greene v. Vargas

On November 1, 1927, respondent’s assignor and appellant entered into an agreement whereby the former was to buy a one-third interest in the latter’s dairy business for $11,500, $2,500 of which was to be paid by May 1, 1928, and the balance was to be paid by dividends from the business as earned. Appellant was to do all buying, collecting money, and paying bills, and was to pay respondent’s assignor a monthly salary as manager. If respondent’s assignor failed to live up to the contract or was not satisfactory as a manager he was to forfeit all his interest and payments made from dividends,…