Mildenberg v. James

The plaintiffs, acting as promoters, procured the signatures of'certain of the defendants to a subscription list, which *608stated that each agreed to take a fixed number of shares of stock in a projected corporation, the agreement reciting that certain properties held by other corporations were to be acquired by this corporation, when formed.

Contemporaneously, an agreement was made between the plaintiffs and each subscriber, whereby the subscriber practically engaged to use his influence toward completing the enterprise, and the plaintiffs promised in their turn to give the subscriber a certain…