Martin v. McCloskey

Plaintiff brought this suit upon the following instrument:

“New Orleans, La. May 26, 1914.

“Whereas, Mr. Francis L. Martin, of this city, has subscribed to 500 shares of the capital stock of the Importer’s Coffee Company, Ltd., and paid therefor at par in cash, and desires to be protected against any depreciation therein upon any liquidation or sale of said company;

“Now, therefore, we, the .undersigned, hereby guarantee to hold harmless said Martin under said subscription, and to reimburse to him in cash any amount below the par value of said stock which he may sustain upon sale, or liquidation…