De Guire v. Higgins

CLANCY, District Judge.

Plaintiff’s intestate desired to buy out the other stockholders in a manufacturing company and they reduced their agreement to writing. The price of the shares owned by one Fay Moore was fixed at $96,000 and $43,904 of this sum was paid in cash at the execution of the contract. The balance of $52,096 was evidenced by four notes executed by plaintiff’s intestate, all dated December 31, 1935. One was for $17,365 due on or before December 31, 1936, two were for $8,682 each, due on or before December 31, 1937 and a fourth was for $17,367 due December 31, 1938. The contract…