Minot v. Burroughs

This controversy * grows out of a scheme for the promotion of a real estate trust of dock property in East Boston. The defendants Burroughs and DeBlois, having ascertained that dock property, which they believed and which the master has found they were justified in believing was worth $1,250,000 or more, could be bought for $950,000, formed the design of acquiring it at that price for the purpose of reselling it at its actual value to a real estate trust to be organized by them, whose shares they proposed to sell.

In order to get the money with which to execute the general scheme, they…